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Our Financial Reporting Expert Group contributed to our response to ESMA's Guidelines on Alternative Performance Measures (APMs). We supported that APMs can provide useful information for investors and aid comparability between companies in the same sector. We noted that attempting to downgrade APMs that do not derive directly from the financial statements will deter companies from presenting meaningful information to investors. We supported that that some of the APMs are calculated from the financials, unlike what was stated in the consultation paper. We further noted that the consultation paper did not provide a detailed analysis of the identified problems. Finally, we argued that the APMs issue would be more appropriately dealt with at national Member State level.

Click here to download the response (pdf)

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