2. The accounting officers of the other institutions and bodies referred to in Article 141 shall also send by 1 March of the following year a reporting package to the accounting officer of the Commission, in a standardised format as laid down by the accounting officer of the Commission for consolidation purposes.

2. The accounting officers of the other institutions and bodies referred to in Article 141 shall also send by 1 March of the following year a reporting package to the accounting officer of the Commission, in a standardised format as laid down by the accounting officer of the Commission for consolidation purposes.

29. Supports the G-20 call to speed up convergence of accounting standards; urges the TEC to call upon the FASB and IASB to achieve a single set of high-quality global accounting standards and complete their convergence project by June 2011; underlines that the IASB should continue its governance reforms;

10. Applauds the G20 commitment to conclude convergence of accounting standards by June 2011; urges the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) to work closely together to institute the necessary reforms to achieve a single global standard;

Parliament has spoken out many times about the need to improve the governance of the international institutions responsible for laying down accounting and financial standards.

Given the objectives of Directive 2003/71/EC to ensure that investors are able to make an informed assessment of the assets and liabilities, financial position, profit and losses and prospects of an issuer, and the objectives of Directive 2004/109/EC to enable investors to make an informed assessment of the financial situation of issuers with securities admitted to trading on a regulated market, it is appropriate that equivalence should be defined by reference to the ability of investors to make a similar assessment of the issuer’s financial position and prospects, irrespective of whether financial statements are drawn up in accordance w ...[+++]ith the accounting standards of a third country or with International Financial Reporting Standards (hereinafter IFRS).