Audit negotiations called off as compromise stalls

04-Dec-2013 @ 17:0

Sajjad Karim Sajjad Karim

Anthea McIntyre Anthea McIntyre

Anthea McIntyre Anthea McIntyre

Sajjad Karim, the European Parliament's lead negotiator on an important package of reforms to the audit profession, has called off the latest round of negotiations due as part of the legislative process.

Mr Karim, as rapporteur on the proposed directive and regulation on audit, decided today (Weds) to cancel tomorrow's scheduled "trilogue" discussions with the European Union Council and Commission.

The North West MEP did so after the council failed today to agree an amended negotiating position in response to compromises put forward by the parliament.

Mr Karim, Conservative spokesman on legal affairs, said: "Cancelling a round of negotiations is not something you do lightly, but I believe it is time for both the commission and the member states through the council to offer any compromise themselves.

"The parliament has made a considerable effort to find a way forward and presented a workable compromise package. But that has been only to find that the council has been unable to overcome national interests to reach an agreed position, while the commission has failed in its duties to mediate successfully.

"I am disappointed the council hasn't been able to make progress. I am equally disappointed that the commission hasn't been able to carry out its role as facilitator.

"In these circumstances there was no point holding a trilogue as there was nothing to discuss. I look forward to this changing and to a compromise package being put to a reconvened trilogue negotiation before too long.

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