Brussels, 20/12/2013 (Agence Europe) - The federation of European accounting professionals believes that grey areas remain in the trialogue agreement reached on the reform of audit services on Tuesday 17 December (see EUROPE 10986). The accounting professionals state that they are disappointed that the compromise did not promote a “proper European solution” by means of a legal instrument directly applicable in the member states without transposition. In addition, the member states have too much freedom to establish the obligatory rotation of auditors as well as the prohibited related services. They fear that this will result in additional administrative costs. The list of banned services should have been used as the basis, they argue, rather than audit services established in the international accountancy code (IESBA). (MD/transl.fl)