The EU knows there’s a problem with group accounts

Posted on May 22 2007

I was sent this:

Many companies are organised in group structures. However, intra group transactions and the group's transactions with related parties often lack transparency seen from the perspective of investors, shareholders and other stakeholders. This can make it difficult for them to assess the true risks of investing in the companies.

I couldn't agree more. Who said that? The EU did. IFRS 8 makes this position worse.

That's why they should adopt the call from PWYP, The Tax Justice Network and others for country by country reporting on an intra-group and third party basis.

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