Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-04-24-Speech-4-057"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-04-24"^^xsd:date2
dcterms:Is Part Of	lp_eu:International Financial Reporting Standards and the governance of the International Accounting Standards Board (debate)2
dcterms:Language	"es"^^xsd:language2
lpv:document identification number	"en.20080424.6.4-057"2
lpv:hasSubsequent	lp_eu:2008-04-24-Speech-4-0582
lpv:speaker	lp:José Manuel García-margallo Y Marfil2
lpv:spokenAs	vice-chair; ECON (2007-02-01--2009-07-13)3 vice-chair; Delegation for relations with the countries of Central America (2007-03-14--2009-07-13)3 substitute; Delegation for relations with the countries of the Andean Community (2007-03-14--2009-07-13)3 substitute; Delegation to the Euro-Latin American Parliamentary Assembly (2007-05-23--2008-10-22)3 substitute; AGRI (2007-02-01--2009-07-13)3 member; EPP-ED (2004-07-20--2009-07-13)3 unknown; Partido Popular (2004-07-20--2009-07-13)3
lpv:translated text	"Madam President, the recent financial crises have shown the importance of high-quality accounting standards for the proper functioning of the markets. This being the case, it seems to me that another lesson of the crisis is that there is a certain asymmetry between the stated importance of accounting standards and the nature and operation of the private entities responsible for setting, producing and interpreting those standards. Mr Radwan’s report is therefore correct to point out that the first matter to be dealt with is that of governance. In my view he has put forward intelligent and realistic proposals about the need for the institutions representing the Union to be more proactive in this process of setting standards which are to be incorporated into the Community legal order, also concerning the internal operating rules of those private entities. Greater transparency, safeguards to prevent conflicts of interest and broader geographical representation are some of the proposals which Mr Radwan has put forward. The second aspect dealt with in the report is the matter of small and medium-sized undertakings. We have emphasised here in the House the need to reconcile two objectives: simplification and reduced cost of accounting procedures for SMEs and the provision of adequate information for market players. The last point covered by Mr Radwan – and one with which I concur – is the need for global standards in a global environment. Therefore it is extremely important to reach agreements with the other major world financial markets, notably the United States. This calls for greater dynamism and a more significant role for the European institutions, including this Parliament and all those listening today."@en1

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