FEE opinion on Transparency Directive

23 September 2003

Although welcoming the extension of the earlier proposed 60 days to three months for annual financial reporting, the European Federation of Accountants (FEE) states that extensions to reporting deadlines will need to be permitted. Especially for smaller listed companies and others in exceptional circumstances even three months might be insufficient.

On quarterly financial information, FEE questions if the proposed publication of the net turnover and the profit or loss before or after deduction of tax are the only appropriate key indicators of Performance and suggests the disclosure of the net turnover by business segment or an equivalent trading indicator, together with an appropriate narrative statement on those indicators, critical events and prospects.

FEE letter to Peter Skinner

© FEE