2011年-世界发展银行全球_Guide_to_Corporate_Sector_Accounting_and_Auditing_in_the_Acquis_Communautaire_2nd_Edition_52页_1mb

Summary of Guide to Corporate Sector Accounting and Auditing in the Acquis Communautaire (2nd Edition)

Core Content

This document provides an overview of the European Union's (EU) legislative framework governing corporate sector accounting and auditing, with a focus on the Acquis Communautaire (the "acquis"), which is the body of EU laws that must be adopted by candidate countries to join the EU. It is aimed at policymakers, regulators, and stakeholders interested in understanding the EU's financial reporting and auditing standards, particularly in the context of EU enlargement and the European Neighborhood Policy (ENP).

Main Treaties

The EU was established through a series of key treaties:

• Treaty establishing the European Coal and Steel Community (ECSC) – 1952: Laid the foundation for European integration, aiming to promote peace and economic growth.
• Treaty of Rome (EC Treaty) – 1 January 1958: Created the European Economic Community (EEC) and established the framework for a common market and customs union.
• Single European Act (SEA) – 1 July 1987: Accelerated the completion of the Internal Market by 1992 and introduced a new legislative procedure.
• Maastricht Treaty – 1 November 1993: Introduced the concept of the European Union and the principle of subsidiarity.
• Treaty of Amsterdam – 1 May 1999: Strengthened the role of the European Parliament and extended the application of the co-decision procedure.
• Treaty of Nice – 1 February 2003: Prepared the EU for enlargement to 25 Member States.
• Treaty of Lisbon – 1 December 2009: Finalized institutional reforms and introduced the ordinary legislative procedure.

EU Membership and Accession

• The EU currently has 27 Member States.
• Croatia is expected to join in 2013 after completing accession negotiations.
• Turkey is also a candidate country.
• The Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, Serbia, and the former Yugoslav Republic of Macedonia) are potential candidates.
• Norway, Iceland, and Liechtenstein are members of the European Economic Area (EEA), giving them access to the EU single market without full membership.
• Switzerland has privileged relations with the EU through bilateral agreements.
• The EU has Association and Partnership and Cooperation Agreements with several countries, including through the Stabilisation and Association Process (SAP) and the European Neighborhood Policy (ENP).

The Acquis Communautaire

• The acquis includes all primary and secondary legislation, as well as case law.
• It is divided into 33 chapters, with Chapter 6 (Company Law) being most relevant to corporate sector accounting and auditing.
• Other relevant chapters include Chapter 2 (Freedom of Movement for Workers), Chapter 3 (Right of Establishment and Freedom to Provide Services), Chapter 4 (Free Movement of Capital), Chapter 8 (Competition Policy), and Chapter 9 (Financial Services).
• Candidate countries receive a roadmap from the European Commission to track their progress in adopting the acquis.
• Transitional measures may be introduced after accession, but transposition periods are rare for Chapter 6.

Legislative Instruments

• Regulations: Directly applicable in all Member States, no national legislation required.
• Directives: Binding on results, but national authorities choose the form and means to achieve them.
• Decisions: Binding in all aspects, addressed to Member States, enterprises, or individuals.
• Recommendations, opinions, and interpretative communications: Considered soft law, promoting good practice without legal binding.

Legislative Principles

• Subsidiarity: EU acts only when Member States cannot achieve objectives on their own.
• Proportionality: EU actions should not exceed what is necessary to achieve objectives.
• Comitology: Previously used to assist the Commission in implementing legislation, now replaced by delegated acts and implementing acts under the Lisbon Treaty.
• Ordinary Legislative Procedure: The most powerful legislative process, involving both the European Parliament and the Council of the European Union.

EU Institutions and Policy-Making Process

• The European Commission is the driving force in EU decision-making, responsible for proposing legislation and managing EU policies.
• The European Parliament and the Council of the European Union share the responsibility for passing EU laws.
• The European Court of Justice (ECJ) ensures the uniform application and interpretation of EU laws.
• DG Internal Market and Services and DG Enterprise are the main bodies within the Commission responsible for financial services, company law, and related regulations.
• The European Parliament has two key committees: Committee on Economic and Monetary Affairs (ECON) and Committee on Legal Affairs (IURI), which oversee financial reporting, auditing, and company law.

Current Issues

• IFRS Convergence: The EU is working to align its accounting standards with US GAAP and other GAAP systems.
• SME Financial Reporting: Special attention is given to the needs of small and medium-sized enterprises.
• Third-Country Auditors: The EU is developing frameworks for the registration and oversight of auditors from non-EU countries.
• Auditor Liability: The role and responsibilities of statutory auditors are under review.
• International Standards on Auditing (ISA): The EU is considering the adoption of ISA.
• Future Role of Statutory Auditors: The evolving role of auditors in the context of EU financial reporting reforms.

Key Information

• The Guide is a resource for policymakers and stakeholders in countries with a "European vocation."
• It is not a legal document or legal advice, but a general overview of the acquis.
• The web version of the Guide is regularly updated to reflect changes in the acquis.
• The CFRR is responsible for the content, and the Guide is developed in collaboration with the European Commission and other institutions.

Conclusion

This document highlights the importance of accounting and auditing harmonization in the context of the EU's Internal Market and financial integration. It outlines the legal framework, legislative procedures, and institutions involved in shaping EU financial reporting standards. It also addresses the challenges and opportunities for candidate and associate countries in aligning with the acquis.