24. Generally, such events should prompt further investigations of an affected area. In particular …

Generally, such events should prompt further investigations of an affected area. In particular, examples of significant events that may put an institution in a situation where conditions for early intervention are met may include:

• a. major operational risk events (e.g. rogue trading, fraud, natural disaster, severe IT problems, significant fines imposed on the institutions by public authorities);
• b. significant deterioration in the amount of eligible liabilities and own funds held by an institution for the purposes of meeting the minimum requirements for own funds and eligible liabilities (MREL);
• c. signals of the need to review the quality of assets and/or conduct independent valuation of specific portfolios/assets, for instance:
• i. outcomes of the assessment of SREP elements, suggesting that there is a concern that assets might be lower than liabilities;
• ii. emphasis of matter paragraph⁵ put in an external auditor’s opinion on the financial statement of the institution, indicating material uncertainty;
• iii. unfavourable events that occur between the end of the reporting period and date when the financial statement are authorised for issue, which provide evidence of conditions that arose after the reporting period and therefore do not require adjustment/restatement of financial statements (non-adjusting events); for each material category of non-adjusting events the institution should disclose the nature of the event and estimate its financial effect, or make a statement to the effect that such an estimate cannot be made);
• iv. perpetual and material adjustments to the institution’s financial statements due to errors in valuation of assets/liabilities and frequent changes in the accounting assumptions.
• d. significant outflow of funds, including retail deposits of customers, caused, e.g. by the reputational damage of the institution;
• e. unexpected loss of senior management or key staff, who have not been replaced;
• f. one or more members of the management body fail to comply with regulatory requirements specified in Directive 2013/36/EU to become or remain a member of the management body;
• g. significant rating downgrades by one or more external rating agencies, potentially leading to substantial outflows of funds, inability to renew funding or activation of contractual covenants related to external ratings.

⁵ An emphasis of matter paragraph is a type of paragraph in, or section of an external auditor’s opinion on financial statements which is added to draw users’ attention to a matter which is appropriately presented or disclosed in the financial statements, but which is of such importance that it is fundamental to users’ understanding of the financial statements (e.g. information about an uncertainty relating to the future outcome of exceptional litigation or regulatory action; a major catastrophe that has had, or continues to have, a significant effect on the entity’s financial position). The emphasis of matter paragraph does not qualify the auditor’s opinion; therefore it does not mean that the financial statements do not present a true and fair view of the financial position.

1. Áttekintés

1.1 Hivatkozások

1.2 Azonosított követelmények

1.3 Kapcsolódó szabványok

2. Azonosított követelmények

3. Kapcsolódó szabványok

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