Companies need to improve how they account for mergers and acquisitions, the European Securities and Markets Authority (ESMA) said.
It checked the financial statements of 56 companies in the European Union to see if they comply with IFRS 3.
Although some businesses were complying with the standard, some disclosures about goodwill were "boiler plate" or insubstantial, the ESMA said.
When calculating assets and liabilities using the "fair value" criteria, the ESMA said some companies only referred to external valua...
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.