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 […]
EFRAG publishes the Draft XBRL Taxonomy for ESRS Set 1 for the first time
The ESRS Set 1 was adopted by the European Commission on July 31, 2023 and published in the Official Journal of the European Union on December 22, 2023. The final XBRL taxonomy is expected to be handed over to the European Commission and ESMA in summer 2024. more information: Draft ESRS Set 1 XBRL Taxonomy […]
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 […]
How XBRL can significantly improve the European Capital Market – annual financial reports
December 20 2023. This was an exciting event at the Financial Conduct Authority (FCA) in 2009. Some of my statements from back then, some of which are unfortunately still relevant in Europe today: “In the US negative feedback of Investment Professionals had been received (see documents of the CFA Institute for example). Consequently they added […]
DVFA comments on the first European standard for sustainability reporting – draft legal act on the new ESRS
July 8, 2023. The Corporate Analysis Commission of the DVFA, Association of Investment Professionals in Germany, has commented on the draft legal act on the new European Sustainability Reporting Standards (ESRS) to the EU Commission. more information: DVFA statement, July 7, 2023 ← back July 8, 2023. The Corporate Analysis Commission of the DVFA, Association […]
EFRAG submits the first part of the draft ESRS to the EU Commission
November 23, 2022. EFRAG has handed over the draft of the first part of the European Sustainability Reporting Standards (ESRS) to the EU Commission. The results from the public consultation in summer 2022 are incorporated into it. The adoption of the standards via “delegated acts” is scheduled for June 2023. Source: EFRAG, Press Release, EFRAG […]