The European Commission wants to create an organization to control auditors. To do so, the EC management team is preparing to write a new rule. Their proposal arose from the EU Green Law, and its objective would be to reinforce accounting cooperation within Europe and to encourage everyone to abide by the same accounting standards.
The Green Law, among its various proposals, could require that accounting guidelines be carried out more systematically and rigidly across all EU countries.
According to sources consulted by elEconomista, at this time those meeting in Brussels are thinking about how to form this supervisory group such that it could act as part of ESMA, the European Supervisor for Equities Markets.
Still, a major part of the proposals suggested by the Green Law will not be applied, given that Brussels would give priority to the new control group, which has had to be selective because the systematic problems are centered around a dozen questions and the accounting industry cannot be overhauled overnight.
