Chamber-EC-Green-Paper-Comment-Letter-12-7-2010
7 Pages
English
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Chamber-EC-Green-Paper-Comment-Letter-12-7-2010

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7 Pages
English

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4orCOMPETITIVENESSCENTER FOR CAPITAL MARKETS1615H STREET, NWQUAADMANTOMWASHINGTON, DC 20062-2000VIcE PRESIDENT463-5540(202)tquaadman@uschamber.comDecember 7, 2010Ms. Nathalie de BasalduaHead — Auditingof UnitDG Internal Market Services&European Commission2,Rue de Spa1049 Brussels, BelgiumVia Email: markt-greenpaper-audit(ec.europa.cuRe:European Commission Green Paper, Audit Policy: Lessonsfrom theCrisisDear Ms. de Basaldua:The United States Chamber of Commerce (the “Chamber”) is theworld’slargest federation of businessesand associations, representing the interests of morethanthree million U.S. and professional organizations.Members includeboth preparers andusers of financial information, many of which operate within theEuropean Union (“E.U.”) or directlyare affected by actions of the EuropeanCommission (“E.C.”).TheChamber created the Center for Capital Markets Competitiveness(“CCMC”) promoteto a regulatory structure suitable for capital markets functiontooptimally in a 21century economy. The CCMC recognizes the vital role of externalaudits in the sound operation of globalizedcapital markets and supports efforts,world-wide,to maintain and improve audit effectiveness.TheCCMC appreciates the opportunity to provide inperspectives response tothe Green Paper on AuditPolicjv: Lessonsfrom the Crisis (the “Green Paper”). share theWeE.C.’s belief that the globalmarketplace requires strong financial reporting policies ...

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