Review of EU's accounting professions planned
European Commission to review EU's accounting professions in a push to remove barriers to free competition.
The accounting professions of the European Union (EU) will come under an unusual European Commission review, designed to ‘identify and remove remaining barriers to free competition’.
This pledge was made by EU competition Commissioner Neelie Kroes at an Organisation for Economic Cooperation and Development (OECD) forum, in Paris.
Announcing a review of both Europe’s financial services and energy sectors, Kroes said: ‘Such barriers could be regulatory, or they could be the result of private practice or even State subsidy’.
Usually, such assessments are carried out by national governments, but Kroes claimed the Commission was authorised to take action under the EU’s ‘Lisbon’ competitiveness programme.