4 Amendments of Sharon BOWLES related to 2008/2247(INI)
Amendment 1 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes with concern that transposition of the crucial notions of 'public-interest entity'1 (PIE) and 'network'2 is leading to differing interpretations among Member States; stresses in this connection that for an undertaking identified as a PIE, and also for the accountant auditing that undertaking, the Directive introduces various far-reaching obligations; notes further that the Directive also introduces various additional obligations for audit firms covered by the network definition; fears that a patchwork of definitions will lead to legal uncertainty and high costs of compliance and thus, ultimately, will adversely affect the Directive's objective; calls therefore on the Commission to seek clarity on this in consultation with the Member States; 1 Article 2(13) of the Directive. 2 Article 2(7) of the Directive.undertake a comprehensive review of the implementation of the definition and the discernable effects of its introduction, and to seek clarity regarding the long-term policy priorities for the EU in this area and the way in which these may best be achieved, in consultation with the Member States; observes that the Commission could usefully draw on guidance from the International Federation of Accountants; Or. en
Amendment 3 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Urges the Commission to establish apromote national quality assurance systemtructures, in close collaboration with the Member States, which ensures independent and impartial quality assurance for accountancy firms; stresses that, in this connection, the European legislative authority must confine itself to general framework provisions set out in the Directive and the recommendation and that it must be left to the sector to flesh out those rules; does not think it feasible at this stage to implement a harmonised quality assurance system across the EU;
Amendment 6 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Notes the Commission's recommendation requesting Member States to limit the liability of accountants, with due regard for their own national legislation and circumstances; endorses the recommendation's objective, through greater convergence between Member States in this area, of bolstering the level playing field for undertakings and accountancy firms; calls on the Commission to inform Parliament no later than in 2010 about the impact of the recommendation, the important issue in this connection being, in particular, whether and to what extent, in accordance with this directive’s objective, the recommendation is leading to more convergence between Member States; observes that further consideration is needed with regard to the impact of the network definition and the lack of legal clarity regarding the liability of firms for the actions of other firms that belong to the same network; notes that this uncertainty has not been directly addressed in the Commission’s recommendation on auditor’s liability and could be a disincentive for some firms to operate in the audit market;
Amendment 8 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
Audit working papers 14a. Considers that there is a very significant lack of clarity in relation to the implementation of Article 47 of the Directive, which deals with the audit working papers; points out that Member States may allow the transfer to the competent authorities of a third country of audit working papers or other documents held by the statutory auditors or audit firms approved by them, however there are legal and data-protection issues to be addressed in order to ensure that the information which EU auditors receive from their client companies is kept confidential and does not get into the public domain of third countries where such companies are listed or where the parent company is incorporated;