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EU Publishes 8th Directive

Tuesday, 6th June, 2006: The 8th Company Law Directive as published in the Official Journal of the European Union can be viewed here. Directive No. 2006/43/EC on statutory audits of annual accounts and consolidated accounts amends Council Directives 78/660/EEC and 83/349/EEC and repeals Council Directive 84/253/EEC. The timeframe for transposing the directive is two years after publication – i.e. on or before 6 June, 2008. Within the next few months the Department of Enterprise, Trade & Employment are expected to commence the process of consultation with all the stakeholders, including IAASA, to reach a broad consensus on its implementation.