Monday, December 21, 2009

'India is one of the countries eligible for transitional relief'

Impact of EU directive on auditors

To a company, what can be worse than having a qualified audit report? Perhaps, the non-acceptance of the financial statements, despite an opinion from the accounting professional, as in a likely situation that is set to impact corporates with a European financial footprint.
“In just a few more months, these companies run the risk of their financial statements not being accepted by the European Union (EU) member-states where their instruments are listed,” says Aniruddh Sankaran, a senior professional in a member firm of Ernst & Young Global, during the course of a recent interaction with Business Line.

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