European commissioner Charlie McCreevy is reluctant to endorse new global accounting standards for Europe’s 19 million SMEs
European commissioner Charlie McCreevy has revealed he is reluctant to endorse new global accounting standards for Europe’s 19 million SMEs, placing the EU in danger of falling behind the rest of the world in adopting the rules.
The standards, due for release in early July, are aimed at harmonising accounting standards for SMEs across the globe and have received support from emerging countries and the United States. The European Union however is treating the standards’ release with caution.
Citing ‘negative’ and ‘mixed’ reactions by EU stakeholders, a spokesman said McCreevy had come to no formal position and that it was too early to say how stakeholders would react. ‘Commissioner McCreevy was concerned about the negative reactions by EU stakeholders to the [2007] exposure draft,’ the spokesman said.
See full Article.
Posts
