| Author (Corporate) | European Commission: Press and Communication Service |
|---|---|
| Series Title | Press Release |
| Series Details | IP/01/770 (31.5.01) |
| Publication Date | 31/05/2001 |
| Content Type | News |
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The European Commission has welcomed adoption on 31 May 2001 by the Council of Ministers and the European Parliament of a Directive to modernise EU accounting rules by introducing the 'fair value' accounting method. The Directive amends the EU's Accounting Directives to take account of developments in markets (such as widespread use of so-called derivatives), business and international accounting standards. It will make it easier for European companies raising capital worldwide to comply with the financial reporting requirements of international capital markets and thus compete on equal terms with non-European competitors. The Directive forms part of the Financial Services Action Plan. |
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| Source Link | http://europa.eu/rapid/pressReleasesAction.do?reference=IP/01/770&format=HTML&rapid=0&language=EN&guiLanguage=en |
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| Subject Categories | Law |
| Countries / Regions | Europe |
