The AMF makes available to listed companies the English version of its recommendations and the results of its examination work of the financial statements

Main points for attention  

In addition to the results of its financial statements examination work conducted between October 2021 and September 2022, the AMF presents a selection of case studies to provide more specific and detailed illustrations of typical cases encountered. It also reviews the first year of application of the ESEF format.

Climate issues 

The issue of the financial impact of climate change keeps growing. The AMF encourages companies to provide more details about the judgements and assumptions used to assess the effects, or the lack thereof, of these risks in their financial statements.
To help companies considering this new challenge, the AMF published in autumn 2022 a new edition of the overview of the information provided in the 2021 financial statements on the effects of climate change and the commitments made by a sample of companies.

Russia’s invasion of Ukraine

With companies withdrawing from Russia and the lack of visibility on how the war in Ukraine and its impact on the economy will evolve, the AMF presents a series of points for attention, building on ESMA’s statement of 16 May 2022, particularly with regard to impairment testing of non-financial assets and classification as assets held for sale. 

Macroeconomic environment

A final section focuses on the risks and effects of current macroeconomic conditions (rising interest rates, inflationary pressures, rising energy and commodity prices, and foreign exchange). The AMF stresses the importance of providing details of the significant effects recognised in the accounts and the possible impacts on the financial statements (impairment tests, long-term and onerous contracts, financial instruments including hedging and expected credit losses).