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.