argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: ESMA - IFRS Financial instruments - Report

On December 15th, 2021, the European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, issued a new report on the application of the IFRS 7 Financial Instruments and specifically the Disclosures and Financial Instruments (impairment requirements) requirements regarding banks’ expected credit losses (ECL). According to what is stated on the report, there is possibility for the improvement for what concerns the compliance and transparency in the general application of the requirements. The report also gives advice on the improvement of the application of the relevant requirements. Issuers, their auditors and audit committees will need to consider the outcome of the report when preparing and auditing the financial statements. ESMA’s report, in particular, is concerned with: general aspects of the ECL-disclosures, assessment of significant increase in credit risk, forward-looking information, explanation of changes in loss allowances, transparency of disclosures on credit risk exposures and ECL sensitivity disclosures.