FEE discussion paper on Risk Management and Internal Control in the EU

31 March 2005

The FEE published a discussion paper on risk management and internal control in the EU, stating that any new requirements to implement reporting on risk management and internal control must be based on evidence that the benefits to companies, shareholders and the public interest will exceed the costs involved.

The new FEE publication provides a review of current best practice amongst companies in risk management and internal control, a review of recent regulatory developments in the US and EU in response to the recent financial scandals; and a survey of regulatory requirements on risk management and internal control in EU member states.

Risk management and internal control is a topical issue: in the US the debate focuses on the Section 404 of the Sarbanes Oxley Act; and in Europe, the European Commission has indicated that companies will have to report on risk management and internal control.

Deadline for comments is 31 July 2005.

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