EUROPEAN PARLIAMENT FINANCIAL REPORTING REFORMS – HIGHER SMALL BUSINESS THRESHOLDS
January 1st, 2005
BY KEITH NUTHALL
THE EUROPEAN Parliament has agreed changes to The European Union's (EU) rule-book on annual and consolidated accounts, toughening companies' requirements to fight fraud and irregularities, while exempting a large number of smaller businesses from many demands. Its vote was welcomed by EU internal market Commissioner Charlie McCreevy: "We improve disclosure for the most complex listed and unlisted companies and at the same time allow member states much more scope for reducing burdens on small and medium-sized companies." The parliament ...
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