IOSCO updates Statement on Non-GAAP Financial Measures
IOSCO updates Statement on Non-GAAP Financial Measures
The International Organization of Securities Commissions (IOSCO) has published its updated Statement on Non-GAAP Financial Measures.
In 2016, IOSCO released its Statement on Non-GAAP Financial Measures to help ensure that users present clear, informative, and non-misleading information regarding financial measures that fall outside Generally Accepted Accounting Principles (GAAP).
The statement has been updated to clarify the interaction between non-GAAP financial measures disclosed outside the financial statements and similar financial measures, such as Management-defined Performance Measures disclosed within the financial statements as required by IFRS 18 Presentation and Disclosure in Financial Statements. The Statement clarifies that disclosure of certain non-GAAP measures inside the notes to the financial statements, in compliance with an accounting standard, does not, by default, result in these measures being ‘GAAP’ measures. The issuer, in such cases, must continue to comply with applicable jurisdictional rules and regulations, if any, when such a non-GAAP financial measure is disclosed outside the financial statements.
The updated Statement may be accessed here.
In 2016, IOSCO released its Statement on Non-GAAP Financial Measures to help ensure that users present clear, informative, and non-misleading information regarding financial measures that fall outside Generally Accepted Accounting Principles (GAAP).
The statement has been updated to clarify the interaction between non-GAAP financial measures disclosed outside the financial statements and similar financial measures, such as Management-defined Performance Measures disclosed within the financial statements as required by IFRS 18 Presentation and Disclosure in Financial Statements. The Statement clarifies that disclosure of certain non-GAAP measures inside the notes to the financial statements, in compliance with an accounting standard, does not, by default, result in these measures being ‘GAAP’ measures. The issuer, in such cases, must continue to comply with applicable jurisdictional rules and regulations, if any, when such a non-GAAP financial measure is disclosed outside the financial statements.
The updated Statement may be accessed here.