EEC as regards amounts expressed in euro - Main contents

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dossier	COM(2003)29 - Amendment of Directive 78/660/EEC as regards amounts expressed in euro.
document	COM(2003)29
date	May 13, 2003

(1) Articles 11 and 27 of Directive 78/660/EEC and, by way of reference, Article 6 of the Seventh Council Directive 83/349/EEC of 13 June 1983 on consolidated accounts(3) and Articles 20 and 21 of the Eighth Council Directive 84/253/EEC of 10 April 1984 on the approval of persons responsible for carrying out the statutory audits of accounting documents(4) specify thresholds expressed in euro for the balance sheet total and the net turnover, at or below which Member States may grant derogations from certain provisions of those Directives.

(2) Since the fifth five-year period following the adoption of Directive 78/660/EEC ends on 24 July 2003, a review of those thresholds has duly been undertaken, as required by that Directive. The results of this review indicate that, in the light of economic and monetary trends in the Community, an increase in the amounts expressed in euro is necessary.

(3) Directive 78/660/EEC should therefore be amended accordingly.