FEE hopes that publication of this major study will stimulate discussion of the need for change and of the best way to promote effective and consistent enforcement across Europe. Note to editors 1. This study provides an overview of the mechanisms operating in Europe for the enforcement of financial reporting standards. It is intended as a contribution to the discussion on the future development of enforcement as an essential element of capital market regulation. The study discusses in Section 3 some general issues about enforcement as well as an overview of the enforcement mechanisms existing in Europe.
More detailed information is included in the Appendix.
The study focuses on the consolidated accounts of listed companies for those countries where the rules for individual accounts can be separated from those for consolidated accounts. It is limited to the financial statements and does not address prospectuses or other documents issued by listed companies. The study does not deal with enforcement by tax authorities, nor does it specifically address the separate enforcement systems existing for the financial institutions, including insurance undertakings. Brussels - Tel. Press Contacts Benoit Lebrun Chairman FEE Accounting Working Party Tel.