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  • New BDO IFR Bulletin Available - ESMA’s20th Extract from the EECS’s Database of Enforcement

New BDO IFR Bulletin Available - ESMA’s20th Extract from the EECS’s Database of Enforcement

16 January 2017

Now available from the BDO Global website is a new BDO IFR Bulletin.

IFRB 2017/02 ESMA’s20th Extract from the EECS’s Database of Enforcement

Summary of IFRB 2017/02

This IFRB summarises the enforcement decisions published by the European Securities and Markets Authority (ESMA) recently in its 20th extract from the European Enforcers Co-ordinations Sessions (EECS’s) Database of Enforcement.   Decisions that taken by national enforcers in the period from March 2014 to June 2016 that were deal with in the extract published, were as follows:

  1. Qualitative disclosures of the risks arising from financial instruments (IFRS 7 Financial Instruments: Disclosures)
  2. Disclosure of significant judgements and assumptions in determining the existence of significant influence (IFRS 12 Disclosure of Interests in Other Entities)
  3. Disclosures relating to determination of value in use (IAS 36 Impairment of Assets)
  4. Recognition of losses on loans upon conversion to shares (IAS 39 Financial Instruments Recognition and Measurement)
  5. Presentation of equal and opposite gains and losses in the statement of profit or loss and other comprehensive income for the period (IAS 1 Presentation of Financial Statements)
  6. Reclassification of capitalised milestone payments by a pharmaceutical company to the statement of profit or loss (IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and IAS 38 Intangible Assets)
  7. Legal requirements that prevent a shareholder from exercising its rights (IFRS 10 Consolidated Financial Statements)
  8. Determining whether an entity is an investment entity (IFRS 10 Consolidated Financial Statements)
  9. Depreciation of vessels in the oil and gas industry (IAS 16 Property Plant and Equipment)
  10. Application of value in use methodology in impairment testing (IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, and IAS 36 Impairment of Assets)
  11. Recognition of onerous contract provisions (IAS 36 Impairment of Assets and IAS 37 Provisions, Contingent Liabilities and Contingent Assets)
  12. Identification of cash generating units (IAS 36 Impairment of Assets)
  13. Purchase of a car fleet with an agreed buy-back agreement (IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, IAS 17 Leases, IAS 32 Financial Instruments: Presentation, and IFRIC 4 Determining whether an Arrangement Contains a Lease)
  14. Recognition of deferred tax assets for unused tax losses (IAS 12 Income Taxes).

 

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