WSBI ESBG

Auditing, Accounting and Reporting

ESBG members support the aim to curb short-term speculation and to encourage the prohibition of undesirable market behaviour

The ESBG advocates for the promotion of high-quality accounting and disclosure standards for the banking industry, thus aiming for standardised reporting requirements.

The ESBG advocates for the promotion of high-quality accounting and disclosure standards for the banking industry, thus aiming for standardised reporting requirements. Our advocacy measures focus on alleviating the reporting burden for banking and financial institutions as well as on increasing data quality, comparability and reliability. Additionally, we advocate for sound audit practices that contribute to high quality corporate reporting and to useful and understandable auditor reporting.
As data requirements to banks have increased exponentially in recent years, both from European and national authorities, we believe that the reporting requirements need to be carefully scrutinised, together with supervisory and regulatory authorities, in order to ensure that they are as clear and as efficient as possible.

We thus follow developments of rules and legislation both in the EU institutions (EU COM, EBA, ECB, EFRAG) and international standard setters (IASB) on issues related to accounting, auditing and reporting that are relevant for banking and financial institutions.

We hereby contribute the decision-making process by submitting our views, in the form of position papers to publicly consulted draft standards or by engaging in direct discussions with the regulators.

Our latest content on Auditing, Accounting and Reporting

ESBG advocates for increased clarity and streamlining of supervisory reporting requirements

On 14 March, ESBG submitted its response to the European Banking Authority (EBA) consultation on ITS amending Commission Implementation Regulation (EU) 2021/451 regarding supervisory reporting

WSBI-ESBG advocates for robust implementation of the BCBS Pillar 3 framework for climate-related financial risks

On 14 March, WSBI-ESBG submitted its response to the Basel Committee on Banking Supervision (BCBS) consultation on its Pillar 3 disclosure framework for climate-related financial risks

ESBG advocates for harmonized reporting as part of the Common Data Dictionary

On 29 November, ESBG responded to the European Commission’s invitation for feedback on the Common Data Dictionary (CDD), a significant

ESBG outlines vision on enhanced risk data practices as part of ECB consultation

On 6 October, ESBG submitted its response to European Central Bank consultation on enhancing Risk Data Aggregation and Risk Reporting (RDARR)

ESBG advocates for further clarity in IFRS 9 Impairment requirements

On 29 September, ESBG submitted its response to the International Accounting Standards Board’s (IASB) Request for Information on

ESBG advocates for further clarity and consistency in IFRS 9 Impairment requirements

Financial Reporting | On 13 September, ESBG responded to the European Financial Reporting Advisory