While it is important for European bodies to decide what is most important for them in these matters, the effectiveness of internal controls is one of the important elements to get right and Directors should indeed be on top of this.
Why wouldn´t they want to certify if they have this under control?
This is not a good move.
Onésimo Alvarez-Moro
See article:
A corporate governance body chaired by the European Commission said there is no need to ask EU companies' boards of directors to certify the effectiveness of internal controls, even though this is a requirement in the US.
The European Corporate Governance Forum has also recommended the introduction of a rule obliging financial intermediaries to facilitate the exercise of voting rights in general meetings of listed companies by or on behalf of their clients.
The commission created the body in October 2004 to provide advice in the field of corporate governance.
See full Article.
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