Location of disclosures and audit consequences

Regarding the location of the information required for the purposes of Article 89 of Directive 2013/36/EU (CRD) it shall be published, where possible, as an annex to the annual financial statements or, where applicable, to the consolidated financial statements of the institution concerned. However, institutions are allowed to include these disclosures in the notes to financial statements, for example as part of their segmental reporting (in accordance with IFRS 8 - Operating Segments ). Such positioning would solve the assurance requirement since that would be covered by the standard (statutory) audit and (public) audit report on these financial statements. For some institutions this solution might not be practicable since these disclosures could be voluminous. Therefore, if the credit institution decides to put the country-by-country disclosures in a separate report, a separate audit report should be provided following the applicable International Standard on Auditing (ISA) 805 special considerations-Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement . DISCLAIMER: This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General for Financial Stability, Financial services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.