⌛ The CSRD will roll out in phases, affecting different types of entities at different times. Whether you're a large entity, a listed SME or operating outside the EU, it's crucial to understand when your reporting obligations kick in. Let's dive into the timeline of when you need to start paying attention to this directive. Check out our new blog post!👉 https://lnkd.in/dgf4crrJ #ESG #CSRD #ESRS #businessplanning #datacollectionjourney #knowledgeseed
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An important reminder from the European Securities and Markets Authority (ESMA) regarding the importance of materiality considerations under the CSRD ESRS, the structure of sustainability statements under the CSRD ESRS and disclosures under Article 8 of the Taxonomy Regulation. #sustainability #reporting #materiality #taxonomy
Financial reporting | #ESMA released its annual European Common Enforcement Priorities Statement for 2024 corporate reporting. Together with the European enforcers, we will focus in 2025 on the International Financial Reporting Standards #IFRS financial statements, sustainability statements, and the European Single Electronic Format digital reporting → https://lnkd.in/d3Zk7_uv. Useful materials 🎯 Clearing the smog: Accounting for Carbon Allowances in Financial Statements → https://lnkd.in/dhtA_pzS 🎯 Off to a good start: first application of ESRS by large issuers → https://lnkd.in/e5VEkPq5 🎯 ESEF reporting manual → https://lnkd.in/d-SgnRr
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Director, Department for Professional Practice (Banking) KPMG Austria; Member of EMA DPP Banking - Views expressed are purely personal
On 24 October ESMA has published this year‘s enforcement priorities. For the first time, ESMA also states clear expectations with respect to the correctness of ESEF filings, apart from the expectable priorities in relation to sustainability reporting and financial reporting. #kpmgaustria #kpmgfinancialservices
Financial reporting | #ESMA released its annual European Common Enforcement Priorities Statement for 2024 corporate reporting. Together with the European enforcers, we will focus in 2025 on the International Financial Reporting Standards #IFRS financial statements, sustainability statements, and the European Single Electronic Format digital reporting → https://lnkd.in/d3Zk7_uv. Useful materials 🎯 Clearing the smog: Accounting for Carbon Allowances in Financial Statements → https://lnkd.in/dhtA_pzS 🎯 Off to a good start: first application of ESRS by large issuers → https://lnkd.in/e5VEkPq5 🎯 ESEF reporting manual → https://lnkd.in/d-SgnRr
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The European Securities and Markets Authority (#ESMA) issued its annual Public Statement setting out the European common enforcement priorities (ECEP) for the 2024 annual financial reports of issuers admitted to trading on European Economic Area (EEA) regulated markets. As well as sections on IFRS financial statements and sustainability statements, it includes a section on the European Single Electronic Format reporting (#ESEF) on 'Common errors found in the Statement of Financial Position'. ESMA, together with national enforcers in the EEA (enforcers), will pay particular attention to these areas when examining the application of the relevant reporting requirements. Definitely worth a read for anyone subject to #ESEF as the section covers (with examples): - correctness of mark-ups - extension taxonomy elements and anchoring - consistency and completeness of mark-ups - correctness of signs, scaling and accuracy - consistency of calculations ESMA underlines the responsibility of management and supervisory bodies of issuers as well as the importance of the oversight role of audit committees to: • ensure the overall internal consistency of the annual financial report, • implement and supervise internal controls, and • ultimately contribute to high-quality annual financial reports. #ixbrl #digitalreporting
Financial reporting | #ESMA released its annual European Common Enforcement Priorities Statement for 2024 corporate reporting. Together with the European enforcers, we will focus in 2025 on the International Financial Reporting Standards #IFRS financial statements, sustainability statements, and the European Single Electronic Format digital reporting → https://lnkd.in/d3Zk7_uv. Useful materials 🎯 Clearing the smog: Accounting for Carbon Allowances in Financial Statements → https://lnkd.in/dhtA_pzS 🎯 Off to a good start: first application of ESRS by large issuers → https://lnkd.in/e5VEkPq5 🎯 ESEF reporting manual → https://lnkd.in/d-SgnRr
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Strategic Advisor, Non-Executive Director, Mentor, Chartered Accountant and former Asset and Wealth Management Audit and Regulatory Advisory Partner
As we head towards the end of another financial year and into reporting season the attached may be a useful reminder of some key issues for #financialstatement preparers and #auditors as well as for #board and #auditcommittee members.
Financial reporting | #ESMA released its annual European Common Enforcement Priorities Statement for 2024 corporate reporting. Together with the European enforcers, we will focus in 2025 on the International Financial Reporting Standards #IFRS financial statements, sustainability statements, and the European Single Electronic Format digital reporting → https://lnkd.in/d3Zk7_uv. Useful materials 🎯 Clearing the smog: Accounting for Carbon Allowances in Financial Statements → https://lnkd.in/dhtA_pzS 🎯 Off to a good start: first application of ESRS by large issuers → https://lnkd.in/e5VEkPq5 🎯 ESEF reporting manual → https://lnkd.in/d-SgnRr
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Head of Corporate Finance and Reporting Unit chez European Securities and Markets Authority (ESMA)
What are ESMA and National Competent Authorities going to focus on for issuers' 2024 corporate reporting? ESMA's 2024 European Common Enforcement Priorities are out! Read on... #ESMA #IFRS #sustainabilityreporting #ESEF
Financial reporting | #ESMA released its annual European Common Enforcement Priorities Statement for 2024 corporate reporting. Together with the European enforcers, we will focus in 2025 on the International Financial Reporting Standards #IFRS financial statements, sustainability statements, and the European Single Electronic Format digital reporting → https://lnkd.in/d3Zk7_uv. Useful materials 🎯 Clearing the smog: Accounting for Carbon Allowances in Financial Statements → https://lnkd.in/dhtA_pzS 🎯 Off to a good start: first application of ESRS by large issuers → https://lnkd.in/e5VEkPq5 🎯 ESEF reporting manual → https://lnkd.in/d-SgnRr
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ESMA announces their enforcement priorities. More attention for the quality of digital reporting (in ESEF).
Financial reporting | #ESMA released its annual European Common Enforcement Priorities Statement for 2024 corporate reporting. Together with the European enforcers, we will focus in 2025 on the International Financial Reporting Standards #IFRS financial statements, sustainability statements, and the European Single Electronic Format digital reporting → https://lnkd.in/d3Zk7_uv. Useful materials 🎯 Clearing the smog: Accounting for Carbon Allowances in Financial Statements → https://lnkd.in/dhtA_pzS 🎯 Off to a good start: first application of ESRS by large issuers → https://lnkd.in/e5VEkPq5 🎯 ESEF reporting manual → https://lnkd.in/d-SgnRr
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Senior Legal Counsel | LLM | MBA | Commercial Contract, Data Privacy and Technology Counsel specialized in international contracts with Compliance and Corporate Governance experience.
The key takeaways from the ESMA’s 2024 European Common Enforcement Priorities (ECEP) fresh statement indicate that in 2025 ESMA and European regulators will prioritize: ✅ Liquidity, accounting policies, judgments, and significant estimates within IFRS financial statements. ✅ Materiality considerations in line with the European Sustainability Reporting Standards (ESRS). ✅ Correcting common filing errors in the European Single Electronic Format (ESEF), specifically in the Statement of Financial Position. And as a cherry on cake ✅ Connecting financial and non-financial information. It was stated that bodies related to annual financial reporting should integrate these focus areas and recommendations into the preparation of 2024 financial reports. Relevance to each issuer’s operations should guide the application of these guidelines. However, it is still unknown what this means in practice. Link to ESMA News in comments. #EU #ESG #ESRS
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Director GC Consultancy Services at G C Consultancy Services & Consultant to Indian Railways + Airport Authority of India Auditor for Green Audits Lead Auditor ISO 9001, 14001, 21001, 22000, 45001 & 50001
The #FinancialStabilityBoard (FSB) has published its 2024 progress report on #ClimateRelatedFinancial disclosures, highlighting significant advancements made by #GlobalJurisdictions in adopting the #InternationalSustainabilityStandardsBoard (ISSB) disclosure standards. The report draws on data gathered from a survey of #FSB member jurisdictions, along with contributions from key standard-setting bodies and international organizations.
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What must financial entities report on to comply with the #SFDR? The Sustainable Finance Disclosure Regulation (SFDR) has two main disclosure levels: entity-level and product-level. Each level requires disclosures in three different forms. ⬇️ To comply, financial entities must meet the disclosure requirements outlined below (using the EU templates in Annexes I to V). 🧭 For more guidance, visit our blog: https://lnkd.in/e8s6Ptaw #ESG #compliance #assetmanagement
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Mark your calendar 📅 for June 11th and join us for another US accounting and reporting roundup session in Zurich. Register now ➡️ https://deloi.tt/4dFVbpz #deloitte #usgaap #secreporting #pillartwo #esg #financialreporting
What is the latest in US Accounting and Reporting? Join our US Accounting and Reporting Roundup breakfast on 📅 Tuesday 11 June 2024, 8.30-11.00 in Zurich, where we’ll provide insights how to navigate financial and non-financial reporting challenges. 📢 Emerging accounting standards; considerations related to global minimum tax frameworks e.g., Pillar II 📢 Updates from the 2023 AICPA & CIMA Conference on Current SEC and PCAOB Developments 📢 SEC rulemaking priorities, hot topics and comment letter trends 📢 The impact of the changing ESG regulatory reporting landscape, update on the SEC final climate disclosure rule Register now ➡️ https://deloi.tt/4dFVbpz #financialreporting #accountingstandards #pillarII #SOX
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