• Register
Return to: Home > News > Mid Tier > APM grow in popularity but still lack comparability, Mazars’s study finds

APM grow in popularity but still lack comparability, Mazars’s study finds

Following the entry into force of the ESMA Guidelines for presenting Alternative Performance Measures (APM) last July, Mazars has conducted a study of their use in the financial information of European listed entities, highlighting a growing popularity in APM but some disparity in the reporting.

Mazars analysed the financial information for the first half of 2016 and the year-end 2015 issued by all entities belonging to the Euro Stoxx 50 index. The study confirmed that APM play a key role in financial communication and that there is a consistency per segment in the indicators used, but the study showed that there are still significant differences in the content of the indicators used despite them using the same label.

“Although APM definitions are generally provided and worded clearly, APMs are often presented with more prominence than their IFRS most reconcilable indicator, especially in the press releases and in the presentations to analysts,” Mazars said in a statement.

The results of the study were presented at an event held in Milan on 29 November and the presentation was followed by a round table discussion.

Alternative Performance Measures (APM) base of international study is in the financial information of European listed firms after the entry into force of the ESMA Guidelines. “The discussion confirmed that, considering their relevance and widespread use in financial communication, APMs will continue to play a role and, accordingly, standard-setters and supervisory authorities have in front of them a journey to undertake,” Mazars said in a statement.

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more


    As the Coronavirus (COVID-19) continues to spread across the world, the International Accounting Bulletin and The Accountant will be collating all the latest news and updates from the profession on the pandemic’s impact.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.