Hans van Damme, FEE President, observed that “There is a need for more internationally comparable and harmonised financial statements, especially for medium sized and larger non-listed companies, because of increasing cross-border operations involving companies in different Member States. We call on all stakeholders including the European Commission to consider the contents of this new standard carefully in order to make a balanced decision on its possible use. FEE is willing to contribute to the debate what role the IFRS for SMEs can play in Europe”.