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European accounting enforcers set out common enforcement priorities regarding companies’ 2022 financial statements


The European Securities and Markets Authority (ESMA) has published its annual priorities statement titled European common enforcement priorities for 2022 annual financial reports. That statement sets out the topics which European accounting enforcers believe those charged with governance should particularly consider when preparing, reviewing and auditing International Financial Reporting Standards (IFRS) financial statements for the year ending 31 December 2022.

ESMA and national accounting enforcers, including IAASA, will scrutinise companies’ accounting for these topics when examining 2022 financial reports.

The following topics are addressed in the ECEP for IFRS financial statements and non-financial statements and in the other considerations related to Alternative Performance Measures (APMs):



IFRS financial statements priorities

Non-financial statement priorities

Considerations related to APMs

Climate-related matters




Russia’s invasion of Ukraine



Macroeconomic environment




Taxonomy-related disclosures




Reporting scope and data quality for non-financial reporting




Identification of APMs and reconciliations




The ESMA Common Enforcement Priorities statement should be read in conjunction with IAASA’s 2022 Observations paper which was published earlier this month.

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