ESMA calls for transparency on COVID-19 effects in half-yearly financial reports

20 May 2020

Metadata
Provider: 
ECEC
URL: 
https://www.esma.europa.eu/press-news/esma-news/esma-calls-transparency-covid-19-effects-in-half-yearly-financial-reportshttps://www.esma.europa.eu/press-news/esma-news/esma-calls-transparency-covid-19-effects-in-half-yearly-financial-reports
Retrieved on: 
Thursday, May 21, 2020
Information
Tags: 
Corporate governance, Corporations, Audit committee, Auditing, Board of directors, Committees, Corporate law, Business, Financial statement, Transparency Directive
Summary
Key Points: 
  • 20 May 2020

    Corporate Disclosure

    COVID-19

    The European Securities and Markets Authority (ESMA), the EU Securities Markets regulator, today publishes a Public Statement addressing the implications of the COVID-19 pandemic on the half-yearly financial reports of listed issuers.

  • The Public Statement is also applicable to financial statements in other interim periods when IAS 34 Interim Financial Reporting is applied.
  • It calls on the management, administrative and supervisory bodies, including audit committees, of issuers and, where applicable, their auditors, to take due consideration of the recommendations included within the statement.
  • ESMA further emphasises the role of audit committees in promoting high-quality half-yearly financial reports at this difficult junction in time.
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