Consultation on the Review of the Fourth and Seventh Company Law Directives

Policy field(s)
Internal Market, Financial Reporting Policy

Target group(s)
All citizens and organisations are encouraged to contribute to this consultation.

Period of consultation
From 25.02.2009 to 30.04.2009

Objective of the consultation

This project is the third step in the simplification of accounting rules for SMEs and other companies in the scope of the Fourth and Seventh Company Law Directives (“Accounting Directives”), which began with a fast-track proposal in 2008. A Member State option to create a new “micro” entity category in order to exempt them from the accounting requirements under the 4th Directive is being proposed by the European Commission, simultaneously with the launch of this stakeholder consultation.

The current consultation aims at raising issues relating to the modernisation and simplification of the Accounting Directives. Positive effects of the review will include a reduction of burden mainly for small companies as well as qualitative improvements for all companies within the scope of these Directives. An additional objective is to increase the clarity of the text for lawmakers and users in general.

Following an analysis of the comments received to the consultation paper a legislative proposal will be presented by the end of 2009.

View the consultation document

Contact details
Responsible service: DG Internal Market and Services, Unit F3 – Financial Reporting Policy
E-mail: markt-F3@ec.europa.eu
Postal address: European Commission, SPA2 00/89, BE-1049 Brussels

Number of responses received to this consultation:
105 responses + 204 duplicates

View the contributions
In the interests of transparency, organisations have been invited to provide the public with relevant information about themselves by registering in the Interest Representative Register and subscribing to its Code of Conduct. If the organisation is not registered, the submission is published separately from the registered organisations.

Results of consultation and next steps:
  • PDFEnglish
  • PDFEnglish

Last update: 06-07-2011