In a speech given at the European Commission conference on financial reporting and auditing, Michel Barnier, current European Commissioner for Internal Market and Services into whose remit accounting and auditing in Europe fall, gave first glimpses of the reactions to the Green paper entitled Audit Policy: Lessons from the Crisis adopted in October 2010.
However, he also spoke on the need of an increased application of IFRS worldwide and possible means of achieving that. The following is a translation of an extract from Mr Barnier's speech; the full speech in the French language can be downloaded here (PDF 41k).
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