42. Considers that the EU should carefully assess the respective benefits of committing to an IFRS standard for SMEs or developing its own independent and comprehensive solution for SMEs; takes the view, furthermore, that any such EU solution could fit into the IFRS conceptual framework without obliging SMEs to use the full IFRS; considers, moreover, that the fact that the application of the fair-value principle to financial assets and liabilities does not always produce realistic valuations must be taken into consideration;

A spirit of enterprise and determination will need to continue if the European Union’s standards and membership requirements are to be met.

27. Deplores the fact that the fight against various forms of white-collar crime – money laundering, tax fraud, market abuse, financing of terrorist groups – has long been involuntarily hindered by the reluctance of national authorities – including American ones – to cooperate with each other; points out that formal adherence to international standards is not enough; welcomes the fresh resolve, after 11 September 2001, to tackle these issues on a multilateral basis;

26. Deplores the fact that the fight against various forms of white-collar crime – money laundering, tax evasion, market abuse, financing of terrorist groups – has long been involuntarily hindered by the reluctance of national authorities – including American ones – to cooperate with each other; points out that formal adherence to international standards –for instance the 40 recommendations of the Financial Action Task Force on Money Laundering (FATF) – is not enough; stresses that effective enforcement figures should become the main yardstick for assessing whether a country should be put on a blacklist or not; welcomes the fresh reso ...[+++]lve, after 11 September, to tackle these issues on a multilateral basis;

(2) As a result of accession, farmers in the Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovenia and Slovakia must deal with a large number of new standards based on Community legislation which they have to respect from the date of accession or at the later date.

31. calls on the Commission that as far as enlargement is concerned to ensure that accession countries adopt existing standards etc. within a specific time frame;