The document responds to 20 questions posed by the European Securities and Markets Authority (ESMA) in Annex 1 of the Consultation Paper "ESMA Guidelines on enforcement of financial information".

Within the European Union, the IAS-Regulation has harmonized applicable accounting standards for consolidated financial statements of capital market oriented companies by requiring IFRS since 2005. Regarding enforcement of financial reporting, the IAS-Regulation offered only small guidance for...