direct ec european parliament council june amend direct eec eec eec eec annual consolid account type compani bank financi institut insur undertak text eea relev european parliament council european union regard treati establish european commun articl thereof regard propos commiss regard opinion european econom social committe act accord procedur laid articl treati lisbon european council march emphasis acceler complet intern market financi servic set deadlin implement commiss financi servic action plan urg step enhanc compar financi statement prepar commun compani secur admit trade regul market hereinaft list compani june commiss publish commun entitl quot eu financi report strategi forward quot propos list compani prepar consolid account accord singl set account standard intern account standard ia latest regul ec european parliament council juli applic intern account standard hereinaft ia regul introduc requir onward list compani prepar consolid account accord ia adopt applic commun provid option member state permit requir applic adopt ia prepar annual account permit requir applic adopt ia unlist compani ia regul adopt intern account standard applic commun meet basic requir fourth council direct eec juli annual account type compani seventh council direct eec june consolid account applic result true fair view financi posit perform enterpris principl consid light direct impli strict conform provis direct annual consolid account undertak cover direct eec eec prepar accord ia regul continu direct primari sourc commun account requir import level plai field exist commun compani appli ia purpos adopt ia applic direct eec eec desir direct reflect develop intern account respect commun commiss entitl quot account harmonis strategi vi vi intern harmonis quot call european union work maintain consist commun account direct develop intern account standard set intern account standard committe iasc member state modifi present profit loss account balanc sheet accord intern develop express standard issu intern account standard board iasb member state permit requir applic revalu fair accord intern develop express standard issu iasb annual report consolid annual report import element financi report enhanc line current practic exist requir present fair review develop busi posit manner consist size complex busi promot greater consist give addit guidanc inform quot fair review quot expect inform restrict financi aspect compani busi expect lead analysi environment social aspect understand compani develop perform posit consist commiss recommend ec recognit measur disclosur environment issu annual account annual report compani take account evolv natur area financi report regard potenti burden undertak size member state choos waiv oblig provid financi inform case annual report undertak differ prepar present audit report reduc compar detract user understand vital aspect financi report increas consist achiev amend consist current intern practic specif requir format content audit report fundament requir audit opinion state annual consolid account give true fair view accord relev financi report framework repres restrict scope opinion clarifi context express direct eec eec amend amend council direct eec decemb annual account consolid account bank financi institut iasb develop refin account standard applic insur activ insur undertak allow fair account express standard issu iasb council direct eec decemb annual account consolid account insur undertak amend amend remov inconsist direct eec eec eec eec hand ia exist adopt direct articl direct eec amend articl subparagraph ad quot member state permit requir inclus statement annual account addit document refer subparagraph quot articl paragraph ad quot member state permit requir present amount item profit loss account balanc sheet regard substanc report transact arrang permiss requir restrict class compani consolid account defin seventh council direct eec june consolid account quot articl paragraph ad quot member state permit requir compani adopt present balanc sheet set articl altern layout prescrib permit quot articl quot liabil quot point titl quot provis liabil charg quot replac quot provis quot articl point titl quot provis liabil charg quot replac quot provis quot articl insert quot articl present balanc sheet item accord articl member state permit requir compani class compani present item basi distinct current current item provid inform equival requir articl quot articl amend paragraph replac quot provis intend cover liabil natur defin date balanc sheet incur incur uncertain amount date aris quot paragraph replac quot provis adjust valu asset quot articl paragraph ad quot derog articl member state permit requir compani class compani present statement perform present profit loss item accord articl provid inform equival requir articl quot articl amend paragraph point bb replac quot bb account liabil aris financi year concern previou liabil appar date balanc sheet date drawn quot paragraph insert quot addit amount record pursuant paragraph bb member state permit requir account forese liabil potenti loss aris financi year concern previou liabil loss appar date balanc sheet date drawn quot articl point replac quot revalu fix asset quot articl paragraph replac quot provis exce amount sum quot articl insert quot articl derog articl member state permit requir respect compani class compani valuat categori asset financi instrument amount determin refer fair permiss requir restrict consolid account defin direct eec articl notwithstand articl member state permit requir respect compani class compani asset valu accord articl chang includ profit loss account quot articl refer quot articl quot replac refer quot articl quot articl amend paragraph replac quot annual report includ fair review develop perform compani busi posit descript princip risk uncertainti face review balanc comprehens analysi develop perform compani busi posit consist size complex busi extent understand compani develop perform posit analysi includ financi financi kei perform indic relev busi includ inform relat environment employe matter provid analysi annual report includ refer addit explan amount report annual account quot paragraph ad quot member state choos exempt compani cover articl oblig paragraph relat financi inform quot articl sentenc delet articl sentenc replac quot report person person respons audit annual account hereinaft statutori auditor accompani public disclos unqualifi qualifi advers audit opinion express statutori auditor unabl express audit opinion disclos report statutori auditor includ refer matter statutori auditor drew attent emphasi qualifi audit opinion quot articl replac quot annual account compani audit person approv member state carri statutori audit basi eighth council direct eec april approv person respons carri statutori audit account document statutori auditor express opinion consist annual report annual account financi year quot articl insert quot articl report statutori auditor includ introduct identifi annual account subject statutori audit financi report framework appli prepar descript scope statutori audit identifi audit standard accord statutori audit conduct audit opinion state opinion statutori auditor annual account give true fair view accord relev financi report framework annual account compli statutori requir audit opinion unqualifi qualifi advers opinion statutori auditor unabl express audit opinion disclaim opinion refer matter statutori auditor draw attent emphasi qualifi audit opinion opinion consist annual report annual account financi year report sign date statutori auditor quot articl delet articl insert quot articl member state make exempt set articl case compani secur admit trade regul market member state mean articl council direct eec invest servic secur field quot articl refer quot articl quot replac refer quot articl quot articl paragraph word quot basi market quot replac quot basi fair quot articl refer quot articl quot replac refer quot articl quot articl direct eec amend articl paragraph replac quot case mention paragraph member state requir undertak govern nation law draw consolid account consolid annual report undertak parent undertak power exercis exercis domin influenc control undertak subsidiari undertak undertak parent undertak undertak subsidiari undertak manag unifi basi parent undertak quot articl refer quot articl quot replac refer quot articl quot articl amend paragraph replac quot articl appli undertak consolid compani secur admit trade regul market member state mean articl council direct eec invest servic secur field quot paragraph delet articl amend paragraph sentenc delet paragraph refer quot articl quot replac refer quot articl quot paragraph replac quot articl appli compani secur admit trade regul market member state mean articl direct eec quot articl refer quot articl quot replac refer quot articl quot articl delet articl subparagraph ad quot member state permit requir inclus statement consolid account addit document refer subparagraph quot articl refer quot articl quot replac refer quot articl quot articl amend point term quot articl prejudic articl quot replac refer quot articl quot point word quot exclud pursuant articl quot delet articl amend paragraph replac quot consolid annual report includ fair review develop perform busi posit undertak includ consolid descript princip risk uncertainti face review balanc comprehens analysi develop perform busi posit undertak includ consolid consist size complex busi extent understand develop perform posit analysi includ financi financi kei perform indic relev busi includ inform relat environment employe matter provid analysi consolid annual report provid refer addit explan amount report consolid account quot paragraph ad quot consolid annual report requir addit annual report report present singl report prepar singl report give greater emphasi matter signific undertak includ consolid quot articl replac quot articl consolid account compani audit person approv member state law govern parent undertak carri statutori audit basi eighth council direct eec april approv person respons carri statutori audit account document person person respons audit consolid account hereinaft statutori auditor express opinion consist consolid annual report consolid account financi year report statutori auditor includ introduct identifi consolid account subject statutori audit financi report framework appli prepar descript scope statutori audit identifi audit standard accord statutori audit conduct audit opinion state opinion statutori auditor consolid account give true fair view accord relev financi report framework consolid account compli statutori requir audit opinion unqualifi qualifi advers opinion statutori auditor unabl express audit opinion disclaim opinion refer matter statutori auditor draw attent emphasi qualifi audit opinion opinion consist consolid annual report consolid account financi year report sign date statutori auditor annual account parent undertak attach consolid account report statutori auditor requir articl combin report statutori auditor annual account parent undertak requir articl direct eec quot articl paragraph ad quot paragraph appli respect compani secur admit trade regul market member state mean articl direct eec quot articl direct eec amend articl paragraph replac quot articl articl articl sentenc articl direct eec appli institut mention articl direct direct articl direct appli respect asset liabil valu accord section direct eec refer made direct eec eec articl balanc sheet articl profit loss account direct eec refer deem refer articl balanc sheet articl profit loss account direct quot articl amend sentenc replac quot member state prescrib layout balanc sheet altern member state permit requir credit institut adopt present balanc sheet set articl quot quot liabil quot point titl quot provis liabil charg quot replac quot provis quot articl insert quot articl present balanc sheet item accord articl member state permit requir credit institut class credit institut present item classifi natur order rel liquid provid inform equival requir articl quot articl paragraph ad quot derog articl direct eec member state permit requir credit institut class credit institut present statement perform present profit loss item accord articl provid inform equival requir articl quot articl delet articl direct eec amend articl paragraph replac quot articl point direct eec appli undertak mention articl direct direct articl direct appli respect asset liabil valu accord section direct eec refer made direct eec eec articl balanc sheet articl profit loss account direct eec refer deem refer articl balanc sheet articl profit loss account direct quot articl replac quot articl direct appli associ underwrit lloyd purpos direct lloyd lloyd syndic deem insur undertak derog articl lloyd prepar aggreg account consolid account requir direct eec aggreg account prepar cumul syndic account quot articl quot liabil quot point titl quot provis risk charg quot replac quot provis quot articl amend paragraph sentenc ad quot member state permit derog requir quot paragraph replac quot method appli invest item state note account amount determin quot articl insert quot articl asset liabil valu accord section direct eec paragraph articl appli invest shown asset shown fair invest shown purchas price fair disclos note account invest shown fair purchas price disclos note account valuat method appli invest includ item denot arab numer shown asset member state permit derog requir method appli invest item state note account amount determin quot annex delet articl member state bring forc law regul administr provis compli direct januari latest forthwith inform commiss thereof member state adopt measur refer direct accompani refer occas offici public method make refer laid member state articl direct enter forc dai public offici journal european union articl direct address member state luxembourg june european parliament presid cox council presid dry oj oj opinion european parliament januari publish offici journal council decis oj oj direct amend direct ec european parliament council oj oj direct amend direct ec oj oj direct amend direct ec oj oj direct amend direct ec european parliament council oj oj oj direct amend direct ec european parliament council oj oj direct amend direct ec european parliament council oj oj