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European Commission

European Commission

Related news

  • European Commission package of measures on long-term financing

  • Mar 28, 2014

  • The European Commission has adopted a package of measures to stimulate new and different ways of unlocking long-term financing and support Europe's return to sustainable economic growth. The measures build on the responses to the Commission's Green Paper consultation on the long-term financing of the European economy of March 2013. They include measures in connection with accounting standards.

  • FEE publishes issues paper on EPSAS

  • Mar 28, 2014

  • The Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) has published a paper discussing the issues emerging in the public debate on a possible future implementation of 'European Public Sector Accounting Standards' (EPSAS) in European Union (EU) member states.

  • EFRAG issues final endorsement advice on amendments to IFRSs

  • Mar 12, 2014

  • The European Financial Reporting Advisory Group (EFRAG) has completed its due process for the IASB’s Annual Improvements to IFRSs (2010-2012 cycle) and (2011-2013 cycle). In both cases, the EFRAG has expressed their support of the amendments and has recommended their adoption to the European Commission.

  • FEE voices concerns regarding the development and implementation of EPSAS

  • Feb 21, 2014

  • The Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) has responded to the European Commission/Eurostat consultation on a possible future implementation of 'European Public Sector Accounting Standards' (EPSAS) in European Union (EU) member states.

  • Maystadt continues as special adviser on the EFRAG reform

  • Feb 04, 2014

  • EU Commissioner Michel Barnier has agreed with Philippe Maystadt that his mission as special adviser should be continued in order to supervise the implementation of reforms of the European Financial Reporting Advisory Group (EFRAG).

  • ESAs disagree with suggested voting model in the new EFRAG Board

  • Jan 28, 2014

  • In a joint letter to Michel Barnier, European Commissioner for Internal Market and Services, the three European Supervisory Authorities (ESAs) - ESMA, EBA and EIOPA - have voiced serious concerns regarding the voting model in the new EFRAG Board proposed in Philippe Maystadt's report with recommendations for enhancing the EU’s role in promoting high quality accounting standards. The ESAs have announced to decline the offers of membership they have received should they not be given the sole right to decide on endorsement advice to the EU Commission on new and revised IFRSs.

  • IFRS Foundation publishes its comments on the Maystadt Report

  • Dec 05, 2013

  • The IFRS Foundation has posted to its website comments on the final report of the special advisor to EU Commissioner Michel Barnier, Mr Philippe Maystadt, setting out his preliminary recommendations for enhancing the EU’s role in promoting high quality accounting standards.

  • Agreement on the EU financing of IFRS Foundation, EFRAG, and PIOB

  • Dec 04, 2013

  • Trilogue agreement has been reached by the three parties involved (the European Parliament, the Council and the Commission) on the EU co-financing of the International Financial Reporting Standards (IFRS) Foundation, the European Financial Reporting Advisory Group (EFRAG), and the Public Interest Oversight Board (PIOB).

  • Notes from the joint FEE/ACCA conference on the Maystadt Review

  • Dec 04, 2013

  • On 2 December 2013, the Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) and the Association of Chartered Certified Accountants (ACCA) offered a joint roundtable to discuss the report on EU influence over global financial reporting standards with Philippe Maystadt. Deloitte observers at the conference have taken notes of the discussions.

  • European consultation on public sector standard setting

  • Dec 02, 2013

  • The European Commission and its directorate-general Eurostat, have released a public consultation paper dealing with the possible future implementation of 'European Public Sector Accounting Standards' (EPSAS) in European Union (EU) member states. The report focuses on the issue of governance, and outlines views about the future governance arrangements and underlying key principles that might apply in the development of EPSAS.

  • EFRAG strives to enlarge General Assembly

  • Nov 29, 2013

  • In reaction to the Maystadt report released earlier this month, which received the unanimous support of the European Union's Economic and Financial Affairs Council (ECOFIN) to transform EFRAG, EFRAG is beginning to implement the changes concerning its own governance.

  • Video recording of Philippe Maystadt presenting his report

  • Nov 28, 2013

  • The 4th Symposium on Accounting Research organised by the French standard-setter Autorité des Normes Comptable (ANC) on 14 and 15 November 2013 saw a presentation of the Maystadt report by its author. A recording of his presentation has been made available on the ANC website.

  • EBA publishes response to draft Maystadt report

  • Nov 19, 2013

  • Following the publication of the final Maystadt report, the European Banking Authority (EBA) has made available its response to the draft of the report. As with the ESMA response to the draft report published last week, the core points remain applicable even though the final Maystadt report has undergone some changes vis-à-vis the draft version.

  • ESMA publishes response to draft Maystadt report

  • Nov 14, 2013

  • Following the publication of the final Maystadt report, the European Securities and Markets Authority (ESMA) has made available its response to the draft of the report. The final report has undergone some changes vis-à-vis the draft version but the main recommendations remained the same so ESMA's core points remain applicable.

  • EU Transparency Directive published, disclosure on non-financial information moving along

  • Nov 13, 2013

  • The new European Transparency Directive has been published in the Official Journal and enters into force on the twentieth day following its publication. Additionally, a draft report on the proposal for disclosure of non-financial and diversity information by certain large companies and groups was presented to the European Parliament committee on legal affairs (JURI).

  • Final Maystadt report available

  • Nov 11, 2013

  • In preparation for a meeting of the European Union's Economic and Financial Affairs Council (ECOFIN) next Friday where the special advisor to EU Commissioner Michel Barnier, Mr Philippe Maystadt, will present his report setting out his preliminary recommendations for enhancing the EU’s role in promoting high quality accounting standards, the report has been made available on the website of the Council of the European Union. The report is at a very high level, and many implementation issues will have to be resolved when and if the proposals are implemented.

  • EFRAG believes fair value should not be banned

  • Oct 26, 2013

  • The European Financial Reporting Advisory Group (EFRAG) has submitted a letter of comment to the European Commission (EC) concerning its Green Paper, ‘Long-term financing of the European economy’. EFRAG believes that the use of fair value may be necessary to achieve transparent and relevant financial reporting and should be required in these cases.