The principle of materiality should not affect any national obligation to keep complete records showing business transactions and financial position.

Member States should be allowed to limit the mandatory application of the principle of materiality to presentation and disclosure.

The way forward should be selective and take particular account of the perspective of small and medium-sized entities and the aspect of materiality.

It is because the principles of fairness and balance guiding the objectives of Bill S-7 are unanimously supported. It is because there are compelling reasons to harmonize the rules with respect to interveners appearing before the CRTC whether they pertain to broadcasting issues or telecommunications issues.

Coordination at Community level, on the basis of Single Market principles, could optimise the conditions for the development of supplementary pension schemes, and so help Member States to face one of the main challenges of modern society: ensuring sustainability of the welfare state while not reducing retirement income" said Single Market Commissioner Mario Monti.Although it is up to Member States to decide the balance between different pension schemes, the Green Paper asks whether appropriate EU prudential rules for pension and life insurance funds, the removal ...[+++]of obstacles to the free movement of workers related to supplementary pensions and appropriate taxation rules could facilitate the development of alternative sources of pension provision.

Although it did not specifically endorse a consumer policy (as it did, for example, an environment policy), the Single European Act: - added an "Article 100A" to the Treaty of Rome, which has proved to be of enormous importance for EC consumer policy as it explicitly stated that a high level of consumer protection was required in drafting Single Market legislation; - provided that decisions in the Council of Ministers were to be taken by a qualified majority, rather than unanimously; - gave the European Parliament - generally perceived to be sympathetic to the consumer interest - an enhanced rôle in the decision-making process. - confirmed the importan ...[+++]ce of the principle of mutual recognition, according to which, in absence of Community harmonization, a product or service legally marketed in one Member State must, in principle be accepted on the market in the other Member States.