12 July 2007

FEE: Simplification should not be simplistic

The FEE published its comments on the Commission Communication on the simplification of EU rules on company law, accounting and auditing. In order to achieve real benefits for enterprises and society these objectives have to be balanced with other public policy goals such as stakeholders' information, investors' protection, markets' stability and the reduction of transaction costs and cost of capital, FEE says.

“The approach to accounting and auditing appears in many respects to overlook the added value which accounting and auditing”, Jacques Potdevin, President of FEE said. “In our experience, greater burdens for business derive, for instance, from multiple and often overlapping regulatory requirements in areas such as tax, incorporation, employment law and statistics.”

Press release
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