European common enforcement priorities for 2018 annual financial reports

Tags: IFRS

European enforcers will focus on new IFRSs and non-financial information in issuers’ 2018 annual reports

ESMA, together with national enforcers, will pay particular attention to these areas when monitoring and assessing the application of all respective requirements. Enforcers will continue to focus on material issues that are relevant for an individual issuer examined. Based on examinations performed, enforcers will take corrective actions whenever material misstatements are identified and ESMA will report subsequently on their findings. In addition to the European common enforcement priorities, enforcers might set additional national enforcement priorities focusing on other relevant topics.

The common enforcement priorities for 2018 year-end, outlined in Section 1 of the Statement are:

  1. Specific issues related to the application of IFRS 15 Revenue from Contracts with Customers;
  2. Specific issues related to the application of IFRS 9 Financial Instruments; and
  3. Disclosure of the expected impact of implementation of IFRS 16 Leases.


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