Brussels, 26/04/2004 (Agence Europe) - The European Commission has initiated consultation on proposal to revise the EU's Accounting Directives in order to: 1) clarify the responsibility of members of company boards for financial statements and key non-financial information; 2) enhance transparency in transactions between companies of one and the same group; 3) establish an annual declaration system containing all information on corporate governance of the firms quoted. These proposals of directive are part of an action plan on the modernisation of company law, presented after the Enron and WorldCom affairs and adjusted after the Parmalat affair. The latest proposals mainly concerned transparency of the remuneration of company directors. The consultation will end on 4 June. (http://www.europa.eu.int/yourchoice/index-en.htm ).