EU Auditors Told To Disclose Russia Risk In Financial Reports
By Dawood Fakhir (May 13, 2022, 3:04 PM BST) -- The European Union's securities regulator told publicly listed companies and their auditors Friday to disclose the direct and indirect effects the Russian invasion of Ukraine has had on their operations in their half-year financial reports to ensure protection for investors.
The European Securities and Markets Authority said the invasion constituted a significant event under EU regulations for companies with considerable exposure to Russia, Belarus and Ukraine. These companies and their auditors need to disclose more information than traditionally required in their public financial statements.
"ESMA recognizes the human cost of Russia's military aggression against Ukraine, and the significant challenges to business...
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