Consultation: Company Law/Ongoing Directives

This project is the third step in the simplification of accounting rules for SMEs and other companies in the scope of the "Accounting Directives".

This was preceded by the fast-track adoption in 2008 of a first series of amendments simplifying disclosure requirements for medium-sized companies and clarifying the obligation to draw up consolidated account. In a second step, the European Commission has decided to introduce a Member State option to create a new "micro" entity category that will be exempted from the accounting requirements under the Fourth Directive. A proposal to this end will be tabled at the same time as the launch of this stakeholder consultation.

The current consultation addresses issues relating to the modernization and simplification of the Accounting Directives. Positive effects of the review will include a reduction of burden mainly for small enterprises ("think small first") as well as qualitative improvements for all enterprises in the scope of the 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 before the end of 2009.

Stakeholders are invited to comment on the questions raised in this Consultation Paper.

Comments should be submitted by 30 April 2009 by filling the word document and sending it to  

For a copy of the consultation paper contact Abigail Mamo @ GRTU on 21232881/3 or .

Received contributions will be published on the Internet.

 Stakeholders are invited to comment on the questions raised in this Consultation Paper. Ideas presented by the Commission Services in this paper are preliminary and may be changed in view of the comments received.

Comments should be submitted by 30 April 2009 by filling the word document and sending it to  

Received contributions will be published on the Internet. It is important to read the specific privacy statement attached to this consultation (link via cover page) for information on how your personal data and contribution will be dealt with