Fefsi president Wolfgang Mansfeld said he was worried that the European Commission was pushing for the regulation because it had been implemented in the US and other countries.
‘My fear is this is not thought through. It is just happening because the European Commission makes a recommendation and other countries, particularly the US, have taken this route,’ Mansfeld was reported as saying in the Financial Times.
Mansfeld said that he favoured independent oversight by an external body.
‘We can come to a European understanding, but it should leave room for different national solutions because one rule does not fit everything,’ he told the FT.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.