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European Parliament approves amended accounting Directives

  • European Union (old) Image

16 Jan 2003

The European Parliament has approved amendments to the European Accounting Directives that would complement the Accounting Regulation adopted in June 2002. The Regulation requires virtually all 7,000 listed European companies to follow IFRS starting in 2005. The amended Directives would remove inconsistencies of the existing Directives with IFRS and would address accounting by the estimated 5 million European companies that are not subject to the IFRS Accounting Regulation.

The amended directives are scheduled for final vote by the Council of Ministers in March. Click for EC Press Release.

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