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
The Fourth and Seventh Directives are repealed and replaced by the new Accounting Directive 2013/34/EU which entered into force on 20 July 2013. Member States have until 20 July 2015 to comply with this new Directive.
Furthermore, the following legislation on financial reporting also applies to the EU listed companies:
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.