European Single Access Point (ESAP)

Topics related to local GAAP, audit, laws and regulations affecting financial reporting, non-GAAP measures, investor relations, internal control over financial reporting, XBRL, pro-forma information and other similar topics.
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Marek Muc
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European Single Access Point (ESAP)

Post by Marek Muc »

Interesting initiative by the European Commission, but obviously it all depends on the implementation
The European Single Access Point (ESAP): putting data at investors' fingertips

The ESAP will offer a single access point for public financial and sustainability-related information information about EU companies and EU investment products. This will give companies more visibility towards investors, opening up more sources of financing. This is particularly important for small companies in small capital markets, as they will more easily be on the radar screen of EU, but also international investors. The ESAP will also contain sustainability-related information published by companies, which will support the objectives of the European Green Deal.
https://ec.europa.eu/commission/pressco ... 251_EN.pdf
JRSB
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Re: European Single Access Point (ESAP)

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Is there a project in the EU to align local GAAPs, perhaps towards IFRS4SMEs? Seems like the kind of thing the EU would do.
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Marek Muc
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Re: European Single Access Point (ESAP)

Post by Marek Muc »

There's a common EU accounting framework. Not common GAAP, but apparently they feel it's sufficient.

https://eur-lex.europa.eu/legal-content ... 4-20141211

They've looked into adopting IFRS SME but felt it would be too much burden when compared to benefits.
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