ESMA comments on IASB’s proposed new approach to disclosure requirements in IFRS

Article summary

The chair of the European Securities and Markets Authority (ESMA), Verena Ross, has written letters to the chair of the International Accounting Standards Board (IASB) and the president of the European Financial Reporting Advisory Group (EFRAG) regarding the IASB’s Exposure Draft ED/2021/3 entitled ‘Disclosure Requirements in IFRS Standards—A pilot approach.’ ESMA has provided comments with the aim of improving the consistent application and enforceability of International Financial Reporting Standards (IFRS).