The goal of integrating Europe’s capital markets is moving nearer with the approaching adoption of the IFRS standards but will require the creation of a European Enforcement Coordination Body, warns the European Federation of Accountants (FEE).
The FEE is showing concern that the effects of enforcement of IFRS standards in 2004, which includes the controversial IAS 39 measure on fair value reporting, will be diluted unless there is consistent monitoring of the standards throughout Europe: the European Enforcement Coordination Body, according to the FEE, is the solution.
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