World Bank2016-06-062016-06-062016https://hdl.handle.net/10986/24425This guide is designed to ensure that a comprehensive overview of the relevant provisions of the acquis communautaire is available to policymakers, regulators, and other stakeholders in countries with a European vocation or those simply wishing to take the European Union (EU) regulatory model into account when devising their own national approaches. This guide outlines and summarizes the EU legislative framework governing corporate sector accounting and auditing. The guide begins by giving a brief history and overview of the EU, its institutions, and legislative processes in section one. In section two, the guide focuses on the development of the internal market, particularly in the areas of financial market integration and company law harmonization. Section three addresses the harmonization of accounting and auditing in the EU. Section four looks at the most pressing accounting and auditing issues for the EU.en-USCC BY 3.0 IGOLIVING STANDARDSLIMITEDMAJORITY VOTEREGULATORY FRAMEWORKLIABILITYMEMBER STATEBOARD MEMBERSACCOUNTINGTAKEOVER BIDINTERNATIONAL CAPITALUNLIMITED COMPANIESCOMPANY LAW HARMONIZATIONSECURITIES REGULATORSPARENT COMPANYREGULATORY REGIMEINCORPORATIONSECOND COMPANY LAW DIRECTIVECOOPDISCLOSURE REQUIREMENTSCOMPANIESFINANCIAL STATEMENTSMERGERSASSET MANAGEMENTTAKEOVERREFERENDUMTREATIESASSOCIATIONSAUDIT COMMITTEESMALLER COMPANIESINDUSTRIAL POLICYLEGAL PERSONALITYSTATESDISCIPLINARY SYSTEMSNATURAL PERSONSFINANCIAL REPORTEXCHANGE COMMISSIONEQUAL TREATMENTCONFLICT OF INTERESTSLEGISLATIVE FRAMEWORKPROTECTION OF INVESTORSACQUISITIONPARTNERSHIPSDISCLOSURE ISSUEUNIONCIVIL LIABILITYTAKEOVERSADOPTIONFINANCIAL INSTITUTIONSLIMITED PARTNERSHIPSTRUSTCAPITAL REQUIREMENTSAUDITOR INDEPENDENCECOMPANY LAWSMALL COMPANIESPUBLIC COMPANIESCORPORATE GOVERNANCE CODEFINANCEDIRECTORSBANKSSHAREHOLDERS’ MEETINGSBORDER MERGERSINTERNATIONAL STANDARDSINVESTORSMINORITY INTERESTSMEMBER STATESFUTUREINCORPORATEDSUBSIDIARIESINDEPENDENT OVERSIGHTBANKINVESTIGATIONSTAKEHOLDERSPARTNERSHIPFINANCIAL INSTRUMENTSASSOCIATIONCOMPANY LAWSCOLLECTIVEFINANCIAL DISCLOSURELARGE COMPANIESCASH FLOW STATEMENTMARKETTRADE LIBERALIZATIONCORPORATE SCANDALSCOMPANYLEGAL PERSONCOMPANIES WITH LIMITED LIABILITYSUBSIDIARYCOURT OF AUDITORSCOMMERCIAL LAWMARKET COMPETITIONSOCIETIESPUBLIC COMPANYSHAREHOLDERSREFERENDALIMITED LIABILITY COMPANYCORPORATE BOARDMUTUAL RECOGNITIONSTATEFINANCIAL MARKETAUDIT COMMITTEESINVESTMENTPRIVATE COMPANYINVESTOR PROTECTIONORGANIZATIONLEGAL PERSONSLIMITED LIABILITY COMPANIESFINANCIAL INFORMATIONTREATYLEGAL ENTITYCOOPERATIVESINDIVIDUALSUNIVERSITYMARKET INTEGRATIONCORPORATE GOVERNANCE INITIATIVESSHAREHOLDERCOOPERATION AGREEMENTCOMPANY LAW DIRECTIVESERIES OF CORPORATE GOVERNANCE INITIATIVESPRIVATE COMPANIESPERSONSINDEPENDENCE REQUIREMENTSLIMITED LIABILITYCOOPERATIVECONSOLIDATIONCORPORATE GOVERNANCECOMPANY LAW DIRECTIVESReportWorld Bank10.1596/24425