EIOPA Work Programme 2013 - EIOPA - Europa

2.4. Accounting
EIOPA will continue to monitor and contribute to the developments in the
European accounting environment, especially with regards to the European
Financial Reporting Advisory Group (EFRAG) in the context of the application of
International Financial Reporting Standards (IFRSs) in the European Union.
EIOPA will keep following the IASB’s work closely, contributing to areas affecting
insurance, and/or occupational pensions and financial innovation.
For 2013 EIOPA expects to be actively involved, together with relevant working
groups, in these accounting related activities:
• Co operate with ESMA and EBA to foster a common European cross
sectoral view on accounting issues and the application of IFRSs.
• Comment on and contribute to the IASB’s projects on Financial
Instruments and Insurance Contracts.
• Contribute to EFRAG’s work, particularly in the fields of insurance
contracts and financial instruments accounting and the consolidation of
investment entities.
• Monitor accounting developments affecting European insurers,
reinsurers, financial conglomerates, occupational pensions’ providers
and insurance intermediaries.
3. Supervisory Tasks
3.1. Colleges
Colleges of Supervisors (Colleges) are considered efficient and effective tools
used in supervision of financial institutions, and they are essential instruments to
enhance mutual understanding among supervisors and convergence of
supervisory practices, with tangible benefits to undertakings, supervisors and
policyholders.
The overall strategic target of EIOPA’s college work is to build the position of the
EEA supervisory community towards the cross border operating insurance groups
for the benefit of both group and solo supervision. The focus is on combining and
leveraging the knowledge and forces of the National Supervisory Authorities in
the EEA to form a strong and equal supervisory body to effectively deal with
centrally organized and managed undertakings.
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© EIOPA 2012