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  • ESMA Launches A Consultation On The Considerations Of Materiality In Financial Reporting And Publishes A Review Of European Enforcers On The Implementation Of IFRS 8 – Operating Segments

    Date 10/11/2011

    Rhe objective of financial statements is to provide information to a range of users for the purpose of eco-nomic decision making. To be useful, such statements must present fairly the financial position, perform-ance and cash flows of the reporting entity. Where information which is required by the relevant financial reporting framework is omitted or misstated and such information could influence the economic decision-making of a user, financial statements cannot be said to achieve a fair presentation. The concept of ‘mate-riality’ is used to describe such information. 

    A recurring theme of discussions at the European Enforcers Coordination Sessions (a forum in which all European National Enforcers of financial information meet to exchange views and discuss experiences of enforcement of IFRS) is the apparent differing views regarding the practical application of the concept of materiality amongst preparers, auditors, possibly users of the financial reports and, in some instances, accounting enforcers. The purpose of this consultation paper is to seek comments from interested parties on their understanding of various aspects of materiality in an effort to contribute to a consistent applica-tion of this important concept in financial reporting. 

  • EEX To Carry Out EUA Auctions For Lithuania

    Date 10/11/2011

    In 2011 and 2012, the European Energy Exchange (EEX) will auction off a total volume of 1.7 million EU emission allowances (EUA) on behalf ofthe Lithuanian ministry of the environment. These allowances are volumes from the Lithuanian new entrants‘ reserve (NER) for the second phase of EU emissions trading (2008 to 2012) which are not needed. The Lithuanian ministry of the environment awarded EEX the contract in the context of a corresponding invitation to tender on 27 October 2011.

  • British Bankers’ Association: International Coordination Is Best For Recovery And Resolution Plans

    Date 10/11/2011

    The detailed recovery and resolution plans being drawn up by banks to ensure none in future will be too big to fail need to be agreed internationally to ensure the best outcomes for all, the British Bankers’ Association said today.

  • New OMX Stockholm Benchmark Portfolio Selected - The New Portfolio Of The OMX Stockholm Benchmark Index Will Become Effective On December 1, 2011

    Date 10/11/2011

    The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces today the results of the semi-annual review of the OMX Stockholm Benchmark index, (NASDAQ OMX Stockholm: OMXSB), which will become effective with the market open on Thursday, December 1, 2011.

  • Tokyo Commodity Exchange: Good Delivery Material Price Differential For November 2011 Rubber Contract

    Date 10/11/2011

    The price differential of the Good Delivery material for the November 2011 contract month in the Rubber market has be determined.

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