ESMA: Enforcement priorities for 2024 annual financial reports published

On 25 October 2024, the common enforcement priorities of the European Securities and Markets Authority (ESMA) and national supervisory authorities of the European Economic Area for 2024 corporate reporting were published.

The enforcement priorities are structured as follows:

1. Priorities related to IFRS financial statements
   • Liquidity considerations
   • Accounting policies, judgements and significant estimates
2. Priorities related to sustainability statements
   • Materiality considerations in reporting under the European Sustainability Reporting Standards (ESRS)
   • Scope and structure of the sustainability statement
   • Disclosures relating to Article 8 of the Taxonomy Regulation
3. Priority related to ESEF reporting
   • Common errors found in the Statement of Financial Position

ESMA also highlights general remarks on other topics which, however, do not constitute common enforcement priorities. These include the connectivity between financial and sustainability statements.

The ASCG is engaged in various activities on these issues. For example, the ASCG user fora on electronic financial reporting according to ESEF and on the implementation of the ESRS, which are exclusively open to our member companies and associations. In addition, the ASCG working group “Group Management Report” in particular deals with the topic of connectivity.