Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-09-Speech-4-995"
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"en.20081009.25.4-995"2
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"I voted in favour of the resolution tabled by the Committee on Economic and Monetary Affairs on the reform of the IASB (International Accounting Standards Board) as part of the debate held following the oral question submitted within the framework of the consultation of the International Accounting Standards Committee Foundation (IASCF).
It is important to remember that through the committee procedure, the European Union, within the framework of Community law, converts the international accounting standards drawn up by the IASB. In spite of this Community adoption procedure, it is essential to ensure that the IASB functions correctly and the creation of a Monitoring Group is a positive step. This Monitoring Group should reflect the balance of the world’s most significant currency areas, cultural diversity, and the interests of both developed and emerging economies and of international institutions that have accountability requirements before public authorities.
The Monitoring Group must play an active role in promoting the transparency of financial reporting and the development and effective functioning of capital markets, as well as avoiding pro-cyclicality, ensuring financial market stability and preventing systemic risk."@en1
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