Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-11-12-Speech-1-221"
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"en.20071112.23.1-221"2
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".
Mr President, Commissioner, there is a certain logic in the sequence of discussions we are having because, in this debate, we have to decide whether or not to adopt the so-called IFRS 8 standard at European level.
I hope this Parliament will adopt the IFRS 8 standard tomorrow, while stressing that when it is revised – and this is already in progress at the IASB, the International Accounting Standards Board – account is taken of the need for precise financial information about the reality of group activities. Many NGOs in particular are sensitive to the fact that through this information, a clearer picture of the activity of groups – for example, mining in a particular geographical area or country by country where this is significant – can be given to those affected by these activities.
Finally, as my last point, I would like to say again to the Commission that we feel the result of this procedure is a very important call to respect the European vote, as a matter of equivalence, and that, when impact assessments are carried out, these enable all parties to express their points of view.
In a previous debate on 25 April 2007, when Parliament had to decide on this standard, we were unequivocal in stating that we felt the conditions were not in place for us to be able to do this. There were two reasons for this.
The first was that we had just given the European Commission and the Council a very clear message that we felt that the convergence process the European Union was entering into with countries outside the EU for the recognition of their accounting standards could not simply amount to a cut-and-paste of their standards with the international standard. We also felt that the convergence process should be a mutual process.
When it came to the IFRS 8 standard, we had the impression that this was not the route that was being followed by the international organisation and we wanted to alert the public to this.
The second reason for doing so was that many people were warning us, quite rightly I believe, of the fact that this accounting standard was being proposed for all users, namely auditors, investors and supervisors, without an impact assessment having been carried out first.
Now, we know the obsession of the Commission chaired by Mr Barroso with having these impact assessments carried out regularly as part of better regulation, which it uses as a roadmap. It seems to us that what applies at European Union level should also apply to the self-regulating international standardisation bodies We have therefore asked the Commission to conduct this impact assessment itself, in the absence of any assessment by the international body.
The Commission met its formal commitment by presenting the conclusions of this impact assessment to the Committee on Economic and Monetary Affairs in early September, as agreed. Nevertheless, in future, we need to acknowledge that the scope of this assessment and the way all the parties were interviewed undoubtedly needs to be reviewed to improve the spectrum of those interviewed, so that it is not only those known as the preparers, that is those who draw up the accounts.
Through its desire to move forward with this debate and perhaps also to contribute to the international standards becoming the reference throughout the world, Parliament still wants to adopt the IFRS 8 standard today and this demonstrates both its sense of earnestness in the procedure for adopting the accounting standards and also its sense of responsibility.
As important discussions begin with the United States to establish the conditions for its own adoption of the accounting standards, it seems important to us to show our determination to do so ourselves in a lucid and responsible manner."@en1
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