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EU Securities, Markets Regulator Releases 2014 Enforcement Priorities

Roberta Holland | November 5, 2014

The European Securities and Markets Authority last week released the European common enforcement priorities for 2014, which will guide not just ESMA but national financial regulators in their reviews of listed companies’ financial statements.

The priorities fall into three categories – preparation and presentation of consolidated financial statements and related disclosures; financial reporting by entities with joint arrangements and related disclosures; and recognition and measurement of deferred tax assets.

The goal of the common enforcement priorities is to provide harmonization in enforcement and a consistent application of the International Financial Reporting Standards throughout the EU, said Steven Maijoor, chairman of ESMA.

ESMA said those three areas were selected because they represent significant...

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