On 8 January 2013, the European Association of Co-operative Banks (EACB), the European Banking Federation (EBF) and the European Savings Banks Group (ESBG) sent to the European Commission, the European Parliament and the Council of the EU their concerns regarding the Commission Proposal on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, the so-called “Accounting Directive” that revises the 4th and 7th Accounting Directives.
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