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
March 3, 2023
ESBG submits its response to the EBA consultation on its data collection for the benchmarking exercise in 2024
On 28 February, the ESBG submitted its response to the European Banking Authority (EBA) consultation on its data collection for the benchmarking exercise in 2024
August 3, 2022
International Sustainability Standards Board consultation on Sustainability Disclosures
The International Sustainability Standards Board (ISSB) has been established at COP26 with the purpose of developing a comprehensive global baseline of sustainability disclosures for the capital…
May 23, 2022
ESBG submits its position to the International Accounting Standards Board on IFRS 17
ESBG believes that this does not correctly portray the insurance service provided under these contracts. We are of the opinion that an alternative approach based on the present value of expected…
December 23, 2021
Daisy chain of internal MREL
Resolution groups with entities in only one member state should be exempted from the “daisy chain” deduction framework.
December 14, 2021
Call for evidence on the European Commission mandate regarding the PRIIPs Regulation
In Europe there are many PRIIPs that retail investors can purchase. In the area of structured products (PRIPs) alone, there are more than 1.5 million of them.
December 10, 2021
ESMA’s review of the MiFID II best execution reports
The RTSs 27 (and 28) currently regulates the best execution reporting by execution venues and investment firms. We understand that the crucial question for RTS 27 reports is if these reports should…