Eumedion is very much supportive of the International Auditing and Assurance Standards Board (IAASB) efforts to respond to the demand from users of financial statements, including investors, to make the statutory auditor's report more informative and company-specific. Especially the proposal to insert a new section entitled 'Key Audit Matters' in the auditor's report of a listed company is, according to Eumedion, a step forward in increasing the relevancy and usefulness of the auditor's report for users. This is one of the key messages of Eumedion's comments to the IAASB Exposure Draft 'Reporting on Audited Financial Statements'. The comments were submitted today.
Eumedion supports the European Securities and Markets Autority (ESMA) in its efforts to further develop a more harmonised supervisory approach regarding the financial information published by European listed companies. The draft ESMA Guidelines on enforcement of financial information will help to improve the quality and consistency of financial repoerting across Europe, whicht is fundamental for institutional investors' confidence in listed companies' performances and prospects, says Eumedion in its today's sent reaction on the ESMA consultation document.
Eumedion Focus Letter 2014 propagates more meaningful reporting by audit committees and statutory auditors
More meaningful reporting by audit committees and by statutory auditors are the main themes Eumedion participants will focus on during their dialogues with Dutch listed companies in 2014. The themes are incorporated in the so-called Eumedion Focus Letter 2014 that was sent to the Dutch listed companies earlier this week.
The International Accounting Standards Board (IASB) and the US standard setter FASB have created a well designed draft standard for lease obligations. The proper accounting for leases in operating income and debt is very important for investors: it significantly reduces the risks for investors in companies that have lease contracts. Eumedion explains in detail the virtues of the proposals in its today's reaction on the IASB's and FASB's Exposure Draft on lease accounting.