Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-05-21-Speech-3-241"
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"en.20080521.20.3-241"2
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". −
The Commission communication raises fundamental questions which are to determine European policy on company and accounting law. The Lehne report put forward good answers to these questions, which I can also approve. However, there is one problematic point where the Commission proposes the introduction of a ‘micro-entities’ category. These are smaller enterprises below a specific threshold which are to be exempt from the European financial reporting and annual accounting obligations. The Lehne report is in favour of that approach and even suggests raising the thresholds. In Belgium, 75% of undertakings would be released from the present transparency requirements. At first sight, abolition of the accounting system for small enterprises seems a major simplification of the bureaucracy, but, given the importance of financial information for all the parties concerned (providers of credit, for example), it could lead to more bureaucratic red tape and higher costs. Since there will be no generally accepted financial reporting, enterprises will be asked to provide figures
in a variety of ways. Furthermore they are depriving themselves of a useful tool for internal company monitoring which is certainly important for an SME. I therefore abstained from the final vote."@en1
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