EUROPEAN COMMISSION ACTS AGAINST MEMBER STATES OVER ACCOUNTING RULES
July 1st, 2006
BY KEITH NUTHALL
THE EUROPEAN Commission is taking legal action against five member states for failing to comply with a range of accounting-related European Union (EU) laws. Acting in its official role as guardian of EU treaties and legislation, these include:
*Taking Austria to the European Court of Justice (ECJ) for failing to implement a 2000 directive on financial transparency regarding transactions between member states and other public bodies.
*Threatening Luxembourg with seeking daily recurring fines for ignoring an ECJ ruling telling it to write the 2001 ...
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