New EU Commissioner comments on accounting

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18 Feb 2010

Michel Barnier, who took office last week as the European Commissioner responsible for Internal Market and Services, commented briefly on international accounting standards during a presentation to the Ecofin Council (the council of economic and finance ministers of EU Member states).

Mr Barnier's presentation was titled Acting Without Delay to Clean Up Financial Markets. Here is an excerpt:

One of the strongest conclusions of the G20 was the shared commitment to reform together and to ensure convergence of accounting standards at an international level. To this end, we need to find the right balance between a faithful representation of a company's financial situation and wider financial stability. This issue will be at the centre of our discussions in the coming months.

Click to Download Mr Barnier's Remarks (PDF 28k).

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