Review of financial reporting – Olav Thon Eiendomsselskap ASA

21 May 2024 16:35 CEST

Finanstilsynet has reviewed certain matters related to the financial reporting
of Olav Thon Eiendomsselkap ASA. The review has mainly covered disclosures
according to IFRS 13 Fair Value Measurement of the company's investments
properties.
In the 2022 financial statements, the company has divided investment properties
in two classes: shopping malls and commercial property. In Finanstilsynets view,
the company's division into classes of assets is not in accordance with IFRS
13.94, as the division means that there is not a sufficient level of detail in
the company's disclosures. The company has informed Finanstilsynet that these
matters will be improved in the next financial statements. Finanstilsynet takes
note of the company's assessment.
Further, in Finanstilsynets view, there exist some deficiencies in the 2022
financial statements related to disclosure requirements following IFRS 13.93 d,
regarding the input data used in fair value measurements.
With this letter, Finanstilsynet closes the review.
Finanstilsynet's letter is available in Norwegian only.
If you have any questions, please contact:
Lars Jacob Braarud, Head of section, +47 22 93 97 53 / +47 91 34 52 73 (mobile)

More information:
Access the news on Oslo Bors NewsWeb site

619269_Kontroll av finansiell rapportering Olav Thon Eiendomsselskap ASA.pdf