natgillin/translations-raw huggingface dataset:
ARTIKLI 47 LÕIGE 5
ARTICLE 47, PARAGRAPH 5
Komisjon võib artikli 49 lõikes 2 märgitud menetluse kohaselt määratleda lõikes 4 märgitud erakorralised juhtumid.
The Commission may, in accordance with the procedure referred to in Article 49 (2), define the exceptional cases referred to in paragraph 4.
Komisjon võib artikli 49 lõikes 2 märgitud menetluse kohaselt täpselt määratleda lõikes 4 märgitud erakorralised juhtumid, et lihtsustada koostööd pädevate asutuste vahel ja tagada käesoleva lõike ühtlane rakendamine .
The Commission may, in accordance with the procedure referred to in Article 49 (2), specify the exceptional cases referred to in paragraph 4 in order to facilitate cooperation between competent authorities and to ensure the uniform application of that paragraph .
ARTIKKEL 48
ARTICLE 48
Artikkel 48
Article 48
Lisaks teistele käesolevas direktiivis nimetatud rakendusmeetmetele ja selleks et võtta arvesse arenguid kohustusliku auditi alal ja sellega seotud valdkondades ning tagada antud direktiivi ühtne rakendamine ühenduses võib komisjon artikli 49 lõikes 2 sätestatud menetluse kohaselt võtta vastu rakendusmeetmed.
In addition to the other implementing measures referred to in this Directive and in order to take account of developments in and related to statutory audit and to ensure uniform application of this Directive in the Community, the Commission may adopt implementing measures, in accordance with the procedure referred to in Article 49 (2).
If necessary the articles in the directive provide for comitology.
If necessary the articles in the directive provide for comitology.
This article is therefore dispensable.
This article is therefore dispensable.
ARTIKLI 49 LÕIKE 2 ESIMENE LÕIK
ARTICLE 49, PARAGRAPH 2, SUBPARAGRAPH 1
Sellele lõikele viitamisel kohaldatakse otsuse 1999/468/EÜ artiklites 5 ja 7 märgitud regulatiivkomitee menetlust, arvestades eelnimetatud otsuse artiklit 8.
Where reference is made to this paragraph the regulatory procedure laid down in Articles 5 and 7 of Decision 1999/468/EC shall apply, having regard to Article 8 thereof.
Euroopa Parlamendil on pärast talle rakendusmeetmete eelnõu esmast edastamist aega kolm kuud, et meetmetega põhjalikult tutvuda ning esitada oma arvamus.
The European Parliament shall have three months from when the draft implementing measures are first forwarded to scrutinise them and give its opinion.
Kui parlament võtab selle aja jooksul resolutsiooni vastu, siis vaatab komisjon meetmete eelnõu veel kord läbi.
If Parliament adopts a resolution within that period, the draft measures shall be re ‑examined by the Commission.
ARTIKLI 50 PUNKTI 1 ALAPUNKT A
ARTICLE 50, POINT 1, POINT A
Artikkel 43 (direktiiv 78/660/EMÜ)
Article 43 (Directive 78/660/EEC)
"15) audiitorile või audiitorühingule majandusaasta jooksul raamatupidamise aastaaruande kohustusliku auditi teostamise eest makstud tasud ning muude kinnitusteenuste, nõustamisteenuste ja ülejäänud auditiga mitteseotud teenuste eest makstud tasud ."
"(15) the fees for the financial year paid to the statutory auditor or audit firm for the statutory audit of annual accounts and the fees paid for other assurance services, tax advisory services and other non-audit services.";
"15) avaliku huvi üksuste puhul direktiivi xx/xxx/EMÜ (8. direktiiv) artikli 2 lõikes 11 määratletud eraldi audiitorile või audiitorühingule majandusaasta jooksul makstud tasud raamatupidamise aastaaruande kohustusliku auditi teostamise eest ning muude kinnitusteenuste, nõustamisteenuste ja ülejäänud auditiga mitteseotud teenuste eest.";
"(15) in case of public interest entities as defined in Article 2 (11) of Directive xx/xxx/EEC (8th directive), separately the fees for the financial year paid to the statutory auditor or audit firm for the statutory audit of annual accounts and the fees paid for other assurance services, tax advisory services and other non-audit services.";
The publication of auditors’ fees only makes sense in the case of public interest entities.
The publication of auditors’ fees only makes sense in the case of public interest entities.
In the case of other firms this requirement merely leads to unnecessary administrative burdens.
In the case of other firms this requirement merely leads to unnecessary administrative burdens.
ARTIKLI 50 PUNKTI 1 ALAPUNKT B
ARTICLE, 50, POINT 1, POINT B
Artikli 44 lõige 1 (direktiiv 78/660/EMÜ)
Article 44, paragraph 1 (directive 78/660EEC)
b) Artikli 44 lõige 1 asendatakse järgmisega:
(b) Article 44(1) shall be replaced by the following:
Liikmesriigid võivad lubada, et äriühingud, millele on viidatud artiklis 11, koostavad raamatupidamisaruannete lühendatud lisad ilma teabeta, mida on nõutud artikli 43 lõike 1 punktides 5–12, 14 a ja 15.
Member States may permit the companies referred to in Article 11 to draw up abridged notes on their accounts without the information required in Article 43(1)(5) to (12), (14)(a) and (15).
Sellest hoolimata tuleb lisades avaldada teave, mis on piiritletud artikli 43 lõike 1 punktis 6, kogusummana kõigi kõnealuste kirjete kohta.”
However, the notes must disclose the information specified in Article 43(1) (6) in total for all the items concerned.”
ARTIKLI 50 LÕIKE 1 PUNKT B
ARTICLE 50, POINT 1, POINT B
Artikli 44 lõige 1 (direktiiv 78/660/EMÜ)
Article 44, paragraph 1 (Directive 78/660/EEC)
b) Artiklisse 45 lisatakse järgmine lõige:
(b) In Article 45, the following paragraph is added:
Liikmesriigid võivad üksused, mis ei ole emiteerinud direktiivi 2004/39/EÜ artikli 4 lõike 1 punkti 14 tähenduses reguleeritud turul kauplemiseks lubatud vabalt kaubeldavaid siirdväärtpabereid, vabastada artikli 43 lõike 1 punktis 15 ettenähtud nõude täitmisest.”
Member States may exempt entities which have not issued transferable securities admi t ted to trading on a regulated market within the meaning of Article 4(1(14) of Directive 2004/39/EC from the requ i rement of Article 43(1)(15)."
Small and middle enterprises should be exempted from this directive in order to avoid too much regulation .
Small and middle enterprises should be exempted from this directive in order to avoid too much regulation .
ARTIKLI 50 PUNKT 2
ARTICLE 50, POINT 2
Artikkel 34 (direktiiv 83/349/EMÜ)
Article 34 (Directive 83/349/EEC)
"16) audiitorile või audiitorühingule majandusaasta jooksul konsolideeritud aastaaruande kohustusliku auditi teostamise eest makstud tasud ning muude kinnitusteenuste, nõustamisteenuste ja muude auditiga mitteseotud teenuste eest makstud tasud."
"(16) the fees for the financial year paid to the statutory auditor or audit firm for the statutory audit of the consolidated accounts and the fees paid for other assurance services, tax advisory services and other non-audit services.".
"16) avaliku huvi üksuste puhul direktiivi xx/xxx/EMÜ (8. direktiiv) artikli 2 lõikes 11 määratletud eraldi audiitorile või audiitorühingule majandusaasta jooksul raamatupidamise konsolideeritud aastaaruande kohustusliku auditi teostamise eest makstud tasud ning muude kinnitusteenuste, nõustamisteenuste ja ülejäänud auditiga mitteseotud teenuste eest makstud tasud.";
"(16) in case of public interest entities as defined in Article 2 (11) of Directive xx/xxx/EEC (8th directive), separately the fees for the financial year paid to the statutory auditor or audit firm for the statutory audit of the consolidated accounts and the fees paid for other assurance services, tax advisory services and other non-audit services.".
Artikkel 52 a
ARTICLE 52 A (new)
Minimaalne ühtlustamine
Minimum harmonisation
Kohustuslikku auditeerimist nõudvad liikmesriigid võivad kehtestada rangemad nõuded, kui direktiivis teisiti ei ole märgitud.
The Member States requiring the statutory audit can impose more stringent requirements, unless otherwise indicated in the text of the Directive.
Makes clear that this directive is a minimum harmonisation directive.
Makes clear that this directive is a minimum harmonisation directive.
In line with the agreements of the informal trialogue.
In line with the agreements of the informal trialogue.
ARTIKLI 53 LÕIGE 1
ARTICLE 53, PARAGRAPH 1
Hiljemalt 1. jaanuariks 2006 võtavad liikmesriigid vastu ja avaldavad käesoleva direktiivi järgimiseks vajalikud õigus- ja haldusnormid.
Member States shall adopt and publish before 1 January 2006 the provisions necessary to comply with this Directive.
Liikmesriigid teatavad neist viivitamata komisonile.
They shall forthwith inform the Commission thereof.
24 kuu jooksul pärast käesoleva direktiivi jõustumist võtavad liikmesriigid vastu ja avaldavad käesoleva direktiivi järgimiseks vajalikud õigus- ja haldusnormid.
Member States shall adopt and publish within 24 months after the entry into force of this Directive the provisions necessary to comply with this Directive.
Member states need sufficient time to comply with the provisions of this directive.
Member states need sufficient time to comply with the provisions of this directive.
This Commission proposal on statutory audit of annual accounts and consolidated accounts is a further stage in the process, which began in 1996, of a more harmonised approach to statutory auditing in the EU.
This Commission proposal on statutory audit of annual accounts and consolidated accounts is a further stage in the process, which began in 1996, of a more harmonised approach to statutory auditing in the EU.
In the light of the recommendations the European Parliament adopted in the Parmalat resolution, the resolution on corporate governance, the prospectus directive, the market abuse directive and the IAS, your rapporteur warmly welcomes this directive.
In the light of the recommendations the European Parliament adopted in the Parmalat resolution, the resolution on corporate governance, the prospectus directive, the market abuse directive and the IAS, your rapporteur warmly welcomes this directive.
However, your rapporteur considers that a number of points still require clarification, in particular the provisions on audit committees, on independence of auditors and on liability of auditors.
However, your rapporteur considers that a number of points still require clarification, in particular the provisions on audit committees, on independence of auditors and on liability of auditors.
The amendments presented by your rapporteur aimed, on one hand, at completing and clarifying these points and, on the other hand, following a series of informal trilogue meetings, at approximating the Parliament's position to the positions of Council and Commission with regard to a possible first reading agreement.
The amendments presented by your rapporteur aimed, on one hand, at completing and clarifying these points and, on the other hand, following a series of informal trilogue meetings, at approximating the Parliament's position to the positions of Council and Commission with regard to a possible first reading agreement.
An enhanced cooperation according to Rule 47 of the Rules of Procedure of the European Parliament had been established with the ECON-committee.
An enhanced cooperation according to Rule 47 of the Rules of Procedure of the European Parliament had been established with the ECON-committee.
A series of amendments from this committee had been included in the rapporteur's compromise amendments.
A series of amendments from this committee had been included in the rapporteur's compromise amendments.
The most important points can be summarised as follows:
The most important points can be summarised as follows:
Statutory audit committee:
Statutory audit committee:
The Commission proposes the compulsory introduction of statutory audit committees for public interest entities, such as listed companies.
The Commission proposes the compulsory introduction of statutory audit committees for public interest entities, such as listed companies.
The task of these audit committees is to exercise supervision over the financial reporting process.
The task of these audit committees is to exercise supervision over the financial reporting process.
Your rapporteur agrees with the Commission that effective internal control systems contribute to minimising financial and operational risks, among others.
Your rapporteur agrees with the Commission that effective internal control systems contribute to minimising financial and operational risks, among others.
Setting up an audit committee might help towards this end.
Setting up an audit committee might help towards this end.
However, your rapporteur has a fundamental objection to an EU-level requirement to set up such a committee.
However, your rapporteur has a fundamental objection to an EU-level requirement to set up such a committee.
Experience has shown that, owing to the differences between the national corporate governance systems in Europe, this kind of structure, launched from Brussels, results in unnecessarily complicated regulations.
Experience has shown that, owing to the differences between the national corporate governance systems in Europe, this kind of structure, launched from Brussels, results in unnecessarily complicated regulations.
He considers that it would be wise to leave it to the legislation of the Member States to determine the manner in which firms are to regulate and supervise their own internal reporting .
He considers that it would be wise to leave it to the legislation of the Member States to determine the manner in which firms are to regulate and supervise their own internal reporting .
This would also be in line with the trend which has already begun, to the effect that discussions about – and the further development of – corporate governance structures should take place at Member - State - level.
This would also be in line with the trend which has already begun, to the effect that discussions about – and the further development of – corporate governance structures should take place at Member - State - level.
Accordingly, the compromise amendments to recitals 20 ff and to article 39 give discretion to the Member States to maintain their national bodies similar to an audit committee.
Accordingly, the compromise amendments to recitals 20 ff and to article 39 give discretion to the Member States to maintain their national bodies similar to an audit committee.
Independent auditors:
Independent auditors:
In view of the auditing scandals of the last two years it is of the utmost importance that the directive contains clear provisions guaranteeing auditors' independence.
In view of the auditing scandals of the last two years it is of the utmost importance that the directive contains clear provisions guaranteeing auditors' independence.
Articles 23 and 24 rightly provide that auditors must have no influence on the management of the entity they are auditing, and that the management must have no influence on the auditor.
Articles 23 and 24 rightly provide that auditors must have no influence on the management of the entity they are auditing, and that the management must have no influence on the auditor.
The requirements made of auditors must, however, be reasonable and, in particular, enforceable.
The requirements made of auditors must, however, be reasonable and, in particular, enforceable.
Your rapporteur considers that the independence requirements imposed must not lead to unnecessary administrative burdens, particularly for SMEs.
Your rapporteur considers that the independence requirements imposed must not lead to unnecessary administrative burdens, particularly for SMEs.
The amendments in particular to recital 10 and articles 22 and 23 reflect these concerns, but also contain specific rules concerning the membership based relationship between Members and non profit making entities.
The amendments in particular to recital 10 and articles 22 and 23 reflect these concerns, but also contain specific rules concerning the membership based relationship between Members and non profit making entities.
In Article 40, the Commission provides for an extra guarantee of auditor independence by requiring the rotation of auditors every 5 years, or of auditing firms every 7 years.
In Article 40, the Commission provides for an extra guarantee of auditor independence by requiring the rotation of auditors every 5 years, or of auditing firms every 7 years.
Your rapporteur has serious misgivings about the rotation of auditing firms, since this would engender enormous costs for the firm being audited and might lead to errors.
Your rapporteur has serious misgivings about the rotation of auditing firms, since this would engender enormous costs for the firm being audited and might lead to errors.
Rotation of auditing firms should be the exception, certainly not the rule.
Rotation of auditing firms should be the exception, certainly not the rule.
The amended article 40 paragraph 2 provides for rotation of the key audit partners within a maximum period of seven years.
The amended article 40 paragraph 2 provides for rotation of the key audit partners within a maximum period of seven years.
Limitation of liability:
Limitation of liability:
In many EU Member States there is provision for limiting the liability of auditors.
In many EU Member States there is provision for limiting the liability of auditors.
Your rapporteur is, of course, of the opinion that auditors must be held accountable for their errors.
Your rapporteur is, of course, of the opinion that auditors must be held accountable for their errors.
But if auditors are liable for their errors, it must be possible to insure against such liability.
But if auditors are liable for their errors, it must be possible to insure against such liability.
Unlimited liability is uninsurable, and is thus no solution.
Unlimited liability is uninsurable, and is thus no solution.
Accordingly, the new article 30 (a) provides for presenting a report by the Commission and submitting possible recommendations to the Member States.
Accordingly, the new article 30 (a) provides for presenting a report by the Commission and submitting possible recommendations to the Member States.
The vast amount of references to the comitology procedure in this directive, should be accompanied with a clear reference to a call back right for the European Parliament.
The vast amount of references to the comitology procedure in this directive, should be accompanied with a clear reference to a call back right for the European Parliament.
majandus- ja rahanduskomisjoni arvamus
OPINION of the Committee on Economic and Monetary Affairs
ettepaneku kohta võtta vastu Euroopa Parlamendi ja nõukogu direktiiv raamatupidamise aastaaruannete ja konsolideeritud aastaaruannete kohustusliku auditeerimise kohta, millega muudetakse nõukogu direktiive 78/660/EMÜ ja 83/349/EMÜ
on the proposal for a Directive of the European Parliament and of the Council on Statutory audit of annual accounts and consolidated accounts and amending Council Directives 78/660/EEC and 83/349/EEC
(*) Komisjonidevaheline tõhustatud koostöö – kodukorra artikkel 47
(*) Enhanced cooperation between committees - Rule 47 of the Rule of Procedure
The auditing profession has been through a number of difficult years worldwide.
The auditing profession has been through a number of difficult years worldwide.
Scandals such as those relating to Enron, Parmalat and Flowtex have weakened the trust of consumers and investors.
Scandals such as those relating to Enron, Parmalat and Flowtex have weakened the trust of consumers and investors.
These scandals have reached frightening proportions and have included various types of fraud such as insider trading, falsification of balance sheets and simulated transactions.
These scandals have reached frightening proportions and have included various types of fraud such as insider trading, falsification of balance sheets and simulated transactions.
The scandals required action.
The scandals required action.
Yet, to re-establish trust in markets is not the only goal of the proposed Directive.
Yet, to re-establish trust in markets is not the only goal of the proposed Directive.
It aims also at strengthening the rights of shareholders, increasing investment security and the competitiveness of European enterprises and ensuring the benefits of the internal market.
It aims also at strengthening the rights of shareholders, increasing investment security and the competitiveness of European enterprises and ensuring the benefits of the internal market.
The Commission's Proposal
The Commission's Proposal
The Commission´s proposal on statutory audit is the outcome of years of preparation and takes into account the recommendations of 2000 and 2002.
The Commission´s proposal on statutory audit is the outcome of years of preparation and takes into account the recommendations of 2000 and 2002.
The Directive will replace the 8th Directive on statutory auditors (1984), which only contains rules about the accreditation of auditors but says nothing about the audit procedure, supervision or external quality control.
The Directive will replace the 8th Directive on statutory auditors (1984), which only contains rules about the accreditation of auditors but says nothing about the audit procedure, supervision or external quality control.
Thus the proposed Directive will remedy this.
Thus the proposed Directive will remedy this.
The proposed Directive clarifies the duties of statutory auditors and sets out certain ethical principles to ensure their professionalism and independence, i.e. integrity, objectivity, professional competence, confidentiality and professional secrecy and overall responsibility .
The proposed Directive clarifies the duties of statutory auditors and sets out certain ethical principles to ensure their professionalism and independence, i.e. integrity, objectivity, professional competence, confidentiality and professional secrecy and overall responsibility .
Overall responsibility means that the group auditor bears the full responsibility for the audit report on the consolidated accounts; thus the group auditor reviews the work of other auditors.
Overall responsibility means that the group auditor bears the full responsibility for the audit report on the consolidated accounts; thus the group auditor reviews the work of other auditors.
Through such overall responsibility fraud should be avoided and quality increased.
Through such overall responsibility fraud should be avoided and quality increased.
The same goals are being pursued by quality assurance reviews (at least every six years), transparency reports (written by the audit firms every year), introduction of International Accounting Standards (IAS) , increased cooperation between relevant authorities and the creation of a European audit regulatory committee .
The same goals are being pursued by quality assurance reviews (at least every six years), transparency reports (written by the audit firms every year), introduction of International Accounting Standards (IAS) , increased cooperation between relevant authorities and the creation of a European audit regulatory committee .
Through the creation of an audit committee communicating directly with the auditor, auditors should get help to resist inappropriate pressure from managers.
Through the creation of an audit committee communicating directly with the auditor, auditors should get help to resist inappropriate pressure from managers.
Moreover, independence should be guaranteed through exclusion of any incompatible activity and rotation (internal and external).
Moreover, independence should be guaranteed through exclusion of any incompatible activity and rotation (internal and external).
Critical Analysis
Critical Analysis
Your rapporteur wishes to express his strong support for the aims of the Directive.
Your rapporteur wishes to express his strong support for the aims of the Directive.
Your rapporteur remains, nevertheless, sceptical about a number of points.
Your rapporteur remains, nevertheless, sceptical about a number of points.
It is necessary to strike a balance between lowering the risk of fraud and ensuring healthy competition and high levels of service and quality.
It is necessary to strike a balance between lowering the risk of fraud and ensuring healthy competition and high levels of service and quality.