CHAIR : Julie Galbo, Deputy Director General at the Danish Financial Supervisory Authority RAPPORTEUR : Roxana Damianov

The Corporate Reporting Standing Committee conducts all ESMA’s work on issues related to accounting, audit, periodic reporting and storage of regulated information. In particular it:

• Pro-actively monitors and influences regulatory developments in the area of accounting and auditing, including an active monitoring of the EU endorsement process of international standards and the work of relevant EU accounting and/or auditing Committees.
• Coordinates the activities of National Enforcers from the European Economic Area relating to the enforcement of compliance with IFRS. This includes notably: 
  • Analysis and discussion of individual enforcement decisions under IFRS and emerging financial reporting issues under IFRS. 
  • Identify issues which are not covered by financial reporting standards or which may be affected by conflicting interpretations for referral to standard-setting or interpretative bodies such as the IASB and IFRIC. 
  • Facilitates the exchange of views and sharing of experiences on methods for supervising the financial information of companies offering publicly securities and/or having these securities listed on an EU regulated market.

• Pro-actively monitors and influences developments relating to periodic financial reporting under the Transparency Directive.

• Establishes and maintains appropriate relationships with securities regulators from major capital markets outside Europe, to foster operational cooperation between EU and non-EU regulators on the competences in the remit of the Standing Committee.

Click here download CRSC Terms of Reference

*photo curtesy of Mr Henrik Clifford