Supervision of financial reporting
Supervision of listed companies’ financial reporting, ie monitoring of compliance with the International Financial Reporting Standards (IFRSs), came under the FIN-FSA’s authority from the beginning of 2005.
The purpose of financial reporting supervision is to foster the provision of transparent, sufficient, comparable and comprehensive financial information to markets to support investors’ decision-making.
Supervision of financial reporting is directed at Finnish listed companies and companies who have applied to issue shares for public trading. From the beginning of 2007, supervision was extended to include bond issuers.
Supervision of financial reporting is targeted at financial reports, such as financial statements and interim financial reports, published by securities issuers. The costs arising from supervision are covered by fees levied on supervised entities.