Legal framework

The main body of financial reporting requirements for limited liability companies in the EU consists of the following Directives:

• Fourth Council Directive of 24 July 1978 on the annual accounts of certain types of companies
• Seventh Council Directive of 13 June 1983 on consolidated accounts

Furthermore, the following legislation on financial reporting also applies to the EU listed companies:

• IAS Regulation 1606/2002
• Accounting standards adopted by the EU

In this section you will also find information on the:

• Requirements for listed companies under the Transparency Directive
• Requirements for regulated market entrants under the Prospectus Directive
• Equivalence mechanism established by the EU to determine whether third countries' accounting standards are equivalent to EU ones

A convenient collection of the most important EU accounting legislation can be found in the booklet below.

2009	Community Accounting Legislation 2009 Brochure