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Image header Agence Europe
Europe Daily Bulletin No. 8467
Contents Publication in full By article 10 / 35
GENERAL NEWS / (eu) eu/financial services

Commission presents action plan on audit hoping it will allow European companies to circumvent provisions of US Sarbanes -OXley law

Brussels, 21/05/2003 (Agence Europe) - In an action plan adopted on Wednesday, the European Commission announces it is to propose a directive on audits and the creation of an Audit Regulatory Committee. Announced after the Enron, Worldcom and Ahold scandals, this action plan aims to reassure markets by improving the exactness of legal auditing and thus prevent conflict of interest.

The Commission hopes the future Community measures will be considered as equivalent rules in the United...

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