Beyond the GAAP - October 2021

At the end of October, the European Securities and Markets Authority (ESMA) published its common priorities at European level for the 2021 reporting period.

Unsurprisingly, the Authority is drawing entities' attention to the importance of monitoring the impact of the health crisis, which varies according to activity and geography. Equally unsurprisingly, given their high profile at all levels, the link between climate-related topics and financial statements is the latest addition to the year-end recommendations. The climate challenges facing companies, which are leading many to make firm commitments for the future, must therefore be understood in a consistent manner in all an entity's reports and no longer solely in its non-financial reporting.