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FEE Weekly EU Regulatory update
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Weekly update of EU Regulatory news for FEE Members
FEE publishes five Briefing Papers: In the context of the FEE Conference on Audit Policy on 30 June 2011, FEE has prepared five Briefing Papers on a number of topics directly relevant to audit policy. These Briefing Papers are not meant to be detailed technical papers, they are meant to be brief and readable for non-professionals. FEE hopes they will help to inform policy makers, legislators, regulators, politicians, preparers and other stakeholders as well as the profession about how these subject matters could be further developed. View
FEE writes to the Chair of the European Parliament’s Legal Affairs Committee on accounting for micro-entities: The FEE letter supports the reduction of excessive and unnecessary administrative burdens and the simplification of the financial reporting for micro and small companies within the scope of the 4th Directive. FEE still believes that accrual accounting and the publication of financial information benefit businesses and stakeholders and do not represent a material additional cost. View
FEE comments on Draft Education Standards: Comments on IAESB Consultation Paper on the Proposed IES 6 (Revised) Assessment of Professional Competence (view) and the Proposed IES 4 (Revised) Professional Values, Ethics and Attitudes (view) are available on the FEE website.
ESMA Chair’s keynote speech at the IFRS Conference: Steven Maijoor addressed the five main priorities of ESMA: contributing to safeguarding financial stability, focusing on investor protection, creating a level playing field in financial supervision, the supervision of credit rating agencies and, finally, establishing a single rulebook for financial markets. His speech refers however to many financial reporting issues, including the IASB due process, the role of ESMA in enforcement of IFRSs, the necessity to have a consistent treatment across the EU of impairment losses on sovereign debts, and the future of convergence. View
EC consultation on a new European regime for venture capital: The objective of the consultation is to find the best possible approach in order to achieve a real internal market for venture capital funds in the EU. The consultation document outlines what could be the broad contours of a European passport that would be made available to venture capital funds so that they would be able to raise capital freely throughout the EU from professional investors and invest in innovative SMEs. Interested parties are invited to send their comments by 10 August 2011. View
Thinking Big for Small Businesses - What the EU does for SMEs: The European Commission published the 2011 edition of its brochure “Thinking Big for Small Businesses - What the EU does for SMEs”. The brochure in different languages focuses on the Small Business Act. View
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