Friday, 29th July, 2011
: As a result of recently increased market interest in sovereign debt, the European Securities and Markets Authority
(‘ESMA’) has issued a statement concerning disclosures related to sovereign debt to be included in IFRS financial statements.
ESMA would like to stress the need for enhanced transparency in European listed issuers’ interim and annual financial statements using International Financial Reporting Standards (IFRSs).
ESMA underlines that an appropriate application of relevant IFRS is essential in order to ensure adequate disclosures by listed companies of their exposures to sovereign debt and related instruments.