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FEE welcomes the consultation on ESEF. FEE believes that consistency in filing financial information across Europe enables level playing field and enhances cross border investment.
As indicated in the Consultation Paper, the filing requirements vary across the EU. This indicates that Member States are at a different starting point and have different current practices.
It should also be stressed that the approach to any potential involvement of the (statutory) auditor in the process of the preparation of an electronic filing of financial statements or such financial statements data varies considerably across Europe.
Therefore, FEE believes that any efforts to enhance consistency in Europe should serve as minimum requirements without restricting those Member States that already go beyond the proposed requirements.