ESMA report on enforcement and regulatory activities of accounting enforcers in 2015


This report provides an overview of the activities of the European Securities and Markets Authority (ESMA) and the accounting enforcers in the European Economic Area (EEA) (hereinafter ‘European enforcers’), when examining compliance of financial information provided by issuers listed on regulated markets with the applicable financial reporting framework in 2015. It also provides an overview of the main activities carried out at European level, quantitative information on enforcement activities in Europe as well as ESMA’s contribution to the development of the single rule book in the area of financial reporting. In addition, it also outlines ESMA’s activities for 2016 in the area of corporate reporting following its Supervisory Convergence Work Programme.

In 2015, the total number of ex-post examinations by European enforcers was 1,098 IFRS issuers. 273 of these resulted in an enforcement action by the regulator. European enforcers have thus taken action against issuers in around 25 % of the examinations conducted.

In terms of accounting for income taxes, the ESMA report also elaborates on its specific examination of a sample of 73 issuers with material deferred tax assets or uncertain tax positions from 20 EEA countries. Most of the enforcement actions in respect of this sample related to supporting evidence for the recognition of deferred tax assets or information about significant uncertain tax positions.

Related link: Report – ESMA Report on Enforcement and Regulatory Activities of Accounting – Enforcers in 2015