THE EUROPEAN Commission released revised proposals to create a more competitive and transparent accounting market forward 16 March.

THE EUROPEAN Commission released revised proposals to create a more competitive and transparent accounting market forward 16 March. With the moment for change created by Parmalat and other scandals behind it, of the present day rules on rotation of firms, registration of audit firms and auditors, comparable national auditing standards and enhanced public oversight could be adopted in little across 12 months.

The propos directive tread in the steps ofs the EC's May 2003 communication forward "Reinforcing statutory audit in the EU" EC internal markets commissioner Frits Bolkenstein said: "The initial thinking onward the proposal has ...