Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 06 AUGUST 2012

Summary Of The EC Legislative Proposals On Audit Policy

PwC Management Services LP
Explore more from PwC Management Services LP

This briefing provides an update on the proposed legislation being considered by the European Commission and debated in the European Parliament and the Council of Ministers.

CanadaAccounting and Audit
Neil Manji
Neil Manji

Introduction

This briefing provides an update on the proposed legislation being considered by the European Commission (EC) and debated in the European Parliament (EP) and the Council of Ministers (Council) which could significantly affect the relationship between businesses and their auditors in Europe.

The proposals were released by the EC on November 30, 2011 and affect Public Interest Entities (PIEs) as defined below. We have provided a summary of these proposals below. These are important issues for us as auditors but also for you and all stakeholders in the capital markets. This document provides a short summary of the EC Legislative Proposals and some of our thoughts on these proposed changes.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

CSA Publishes Final Amendments To Align Non-GAAP Financial Measures Disclosure Requirements With IFRS 18

The Canadian Securities Administrators have finalized amendments to National Instrument 52-112 to address the introduction of IFRS 18, which introduces management-defined performance measures requiring disclosure in financial statement notes. These amendments ensure that measures historically treated as non-GAAP financial measures remain subject to regulatory disclosure requirements when disclosed outside financial statements...
CanadaAccounting and Audit
Fogler, Rubinoff LLP
Fogler, Rubinoff LLP
Article

Canada To Adopt International Financial Reporting Standards: An Update

Earlier this year, the Canadian Accounting Standards Board confirmed January 1, 2011 as the date that International Financial Reporting Standards (IFRS) will replace Canadian generally accepted accounting principles (Canadian GAAP) for all Canadian publicly traded companies as well as for non-listed financial institutions, securities dealers and many cooperative enterprises that qualify as “publicly accountable enterprises.”
CanadaAccounting and Audit
Torys
Torys
Article

CSA Finalizes Amendments To Non-GAAP And Other Financial Measures Disclosure Requirements Ahead Of IFRS 18

The Canadian Securities Administrators have finalized amendments to National Instrument 52-112 governing non-GAAP financial measures disclosure, primarily in response to the adoption of IFRS 18. These changes ensure that management-defined performance measures remain subject to disclosure requirements when presented outside financial statements, while introducing new prominence requirements for additional subtotals and allowing incorporation by reference to avoid duplicative disclosure.
CanadaAccounting and Audit
Bennett Jones LLP
Bennett Jones LLP