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Call for more EU involvement in IFRS process

  • European Union (old) Image

06 Dec 2005

Pervenche Beres, Chairwoman of the committee on economics and monetary affairs in the European Parliament, spoke about The Need for Better Involvement of the European Union in the IFRS Process at the FEE Seminar on IFRS Convergence and Consistency held in Brussels on 1 December 2005. An excerpt: Debates on the constitutional review of the IASB and on the (future) role of European Financial Reporting Advisory Group (EFRAG) represent an outstanding opportunity to strengthen the voice and the role of Europe, to improve the IASB corporate governance, and to make the decision making process at IASB level more balanced.

We should fully take advantage of this momentum!

One of the European Parliament's very important concerns relates to the manner in which the EU is present and represented in the IASB, namely on the trustees and on the Board side. A greater transparency towards the European Parliament, especially when it comes to Commission's intended steps in this area, would be a clear asset in ensuring that the EU is represented in the IASB structures in an appropriate way.

Click to Download (PDF 21k). We have previously posted speeches made at the same seminar by , the European Commissioner for Internal Market and Services (PDF 74k - see news story of 2 December 2005) and by , Director, Office of International Affairs of the US Securities and Exchange Commission (PDF 71k - see news story of 3 December 2005).

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