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FEE supports IFRS as they enable Europe to have access to global markets and enhance the comparability, reliability and relevance of financial reporting. FEE cannot envisage any other alternative to the IFRS.
The IFRS are a robust, complete and broadly accepted set of financial standards that can effectively serve the role of global financial reporting standards.
The main objective of the IAS Regulation is to make the EU capital market and single market operate efficiently. Today, capital markets are structured in an even more globalized manner than they used to be, which leads to an increasing need for a single financial reporting framework. Global standards are therefore necessary for and of benefit to the EU. The global character of IFRS allows the improvement of the quality, comparability and reliability of financial information. These are crucial benefits for the EU in remaining competitive, for attracting foreign investment and for restoring confidence in European financial markets. FEE believes that the IAS Regulation´s objectives are still valid.