European Commissioner Charlie McCreevy has gone public with his concerns about role and structure of the International Accounting Standards Board. In his usual direct way McCreevy has pointed out that: “Accounting is now far too important to be left solely to accountants!” Speaking at a recent European Commission’s conference, Financial Reporting in a Changing World, […]
Read MoreThe European Commision has commissioned a €350,000 research study to assess the effectiveness of monitoring and enforcement mechanisms concerning Member States’ corporate governance codes. Four researcb partners have been selected to underake the review: BUSINESSEUROPE (the Confederation of European Business); RiskMetrics Group; ecoDa (the European Confederation of Directors’ Associations) and Landwell & Associés, a European law firm. According to […]
Read MoreA European Group of Auditors’ Oversight Bodies has been set up by the European Commission. The group will ensure effective coordination of new public oversight systems of statutory auditors and audit firms within the European Union and may also provide technical input to the preparation of the Commission implement the 8th company law directive covering […]
Read MoreA survey of 75 fund managers has revealed that this year’s adoption of International Financial Reporting Standards (IFRS) has already begun to affect investment decisions according to PricewaterhouseCoopers (PwC). The results show that 47% said information reported under IFRS had direct influence on decisions, 29% that it had influenced their decisions to move their investment […]
Read MoreEuropean internal commissioner Charlie McCreevy recognised that the current early stages of adoption of International Financial Reporting standards (IFRS) raised challenges in application and interpretation speaking at a recent European Federation of Accountants’ seminar on IFRS. In particular, he said there needed to be broader arrangements for consistent application at company level, and McCreevy mooted […]
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