Publication

3 October 2017

EU Business restructuring & insolvency The accountancy profession's views on the EU Directive

The proposed EU Business Insolvency Directive aims to ensure that entrepreneurs in financial difficulties 1) can seek support at an early stage 2) benefit from a flexible and efficient restructuring framework, and 3) if all else fails, can get a second chance after insolvency.  

Professional accountants can play a key role in advancing the Directive’s objectives, especially in restructuring business and identifying early warning mechanisms for insolvency. 

This paper presents the accountancy profession’s positions on the most contentious matters in this Directive to contribute to its smooth adoption. 

We provide three key principles for the current negotiations:  

  1. ensure that entrepreneurs have access to appropriate and timely advice  
  1. reduce bureaucracy in insolvency proceedings 
  1. consider the long term economic benefits that the Directive will bring to the market 

Related content

PublicationThe Business Insolvency Directive

28 March 2019

EventEU Business Insolvency: How to contribute?

26 June 2017

PublicationEU Business Insolvency. A contribution from the Accountancy profession

9 January 2017

EventEvolving needs of SMEs: the profession’s role?

24 October 2019

In the mediaManagement spotlight: Accountancy Europe’s quest to create one global reporting standard

19 August 2019

In the mediaNon-Financial Reporting: «…it is about staying in business»

14 August 2019

UpdateSustainable Finance

27 June 2019

Consultation responseIAASB’s consultation on Extended External Reporting (EER) assurance

27 June 2019

UpdateSME

20 June 2019

BlogBetter business decisions with assurance on non-financial information

20 June 2019

SpeechECA Sustainability Reporting 2019

17 June 2019

Stories from PracticeAccountants highlight risks for a positive social impact

17 June 2019

Publication10 ideas to make corporate governance a driver of a sustainable economy

12 June 2019

PublicationSME hub

11 June 2019

In the mediaStakeholders present their complaints on sustainable finance to next Commission

7 June 2019

EventIs sustainable finance gender neutral?

3 June 2019

EventClimate-related disclosures: do they fit the EU agenda?

28 May 2019

EventWhat to expect on Sustainable Finance 2019-2024

17 May 2019

EventCorporate governance: A driver of a sustainable economy

16 May 2019

BlogGDPR one year on: its impact on auditors and accountants?

13 May 2019

Update SME

6 May 2019

NewsWhy should I care about accountants?

2 May 2019

PublicationSimplifying withholding tax procedures

2 May 2019

Sign up for our newsletter