EFFAS: Lack of Quality Assurance System Jeopardises Capital Markets Union
April 9, 2024. EFFAS, the European Federation of Financial Analysts Societies, participated in the consultation of ESMA on the European Single Access Point (ESAP) closed on 8 March 2024.EFFAS states: “In the age of automation, AI and complex electronic reports from issuers, such as IFRS consolidated financial statements and future reports in accordance with the […]
Institutional Money: DVFA participates in ESMA consultation on ESAP
March 20, 2024. Institutional Money published an article on DVFA’s statement on the ESMA consultation. Excerpts from it:“The DVFA supports the ESAP concept, but we see an urgent need to supplement a quality assurance system,” said Thorsten Müller, CEO of the DVFA – association of investment professionals in Germany. In my role as the digitization […]
Börsen-Zeitung: DVFA calls on ESMA to establish a quality assurance system for the new ESAP
Risk of data waste of complex electronic reports according to IFRS/ESEF, ESRS March 19, 2014. The DVFA, the association of investment professionals in Germany, is calling for a uniform EU-wide quality assurance system. This is essential to ensure a minimum technical quality on the new EU uniform access point (ESAP) for capital market data. The […]
DVFA calls for uniform EU quality assurance software for ESEF financial and ESRS sustainability reports from ESMA
March 8. 2024. As part of the ESMA consultation on the new European Single Access Point (ESAP), the DVFA, the association of investment professionals in Germany, criticized the lack of a quality assurance system as a serious design flaw in the ESAP. The DVFA Commission for Corporate Analysis, of which I am a member and […]
DVFA participates in ESMA consultation on ESAP – Lack of quality assurance system endangers Capital Markets Union
March 8, 2024. The DVFA, the association of investment professionals in Germany, took part in the ESMA (European Securities and Market Authority) consultation on the subject of ESAP (European Single Access Point). The DVFA Commission for Corporate Analysis, of which I am a member and focus on digitalization issues, has submitted a detailed statement to […]
EU national law Extensions of the IFRS XBRL Taxonomy
February 28, 2024. When preparing the DVFA (German Association of Investment Professionals) statement for the ESMA consultation on the ITS of the new European Single Access Point, I came across the following question (Q24): “Do you think that information required at national level pursuant to Article 3(1) of the Transparency Directive (so-called gold plating) should […]
European Single Access Point (ESAP): ESMA consultation on draft ITS
January 8, 2024. ESMA launches a consultation on the technical specification (ITS, implementing technical standard) of the new European Single Access Point (ESAP). ESMA writes: “The establishment of the European Single Access Point (ESAP) is a flagship action of the Capital Markets Union Action Plan. The purpose of the ESAP is to facilitate access to […]
The complexity of ESEF harmonization
Paris, June 14 2022. With the introduction of the European Single Electronic Format (ESEF) for the annual financial reports of listed companies, the European Parliament aims to improve the transparency of the capital markets, especially for small and medium-sized listed companies, to reduce information costs and to enable comparability of financial reports, among other things. […]
DVFA statement: German draft bill on annual financial reports (ESEF)
October 16 2019. The German Association of Investment Professionals (DVFA e.V.), and here the Corporate Analysis Commission, of which I am a member, commented on the German draft law for the further implementation of the Transparency Directive – amendment directive with regard to a uniform electronic format for annual financial reports – dated October 16, […]
Börsenzeitung: IFRS consolidated financial statements soon with iXBRL – digital transformation of financial reporting with obstacles
“The digital transformation is imminent for the traditional processes, starting with the preparation of the consolidated financial statements, the audit, the publication and right up to their use by investment professionals. Sure, there are consolidated financial statements in PDF format for download, balance sheets prepared in spreadsheets for investors, fee-based databases for investment professionals, but […]