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05/08/2009
Ireland Prosecuted Over Auditing Failures
The Irish Republic is being prosecuted through the European Court of Justice for failing to implement international auditing standards.
European Commissioner Charlie McCreevy initiated the actions after the Department of Enterprise, Trade and Employment failed to meet a series of deadlines Tánaiste and Enterprise Minister Mary Coughlan had outlined in the Dáil.
The State faces another action over delays in taking action on selective company reporting practices, such as the Anglo Irish Bank disaster last year.
A spokesman for the Department of Enterprise said it deferred implementation of directives and missed summer time targets despite Ms Coughlan's apparent efforts to have both directives in place by December.
A spokesman from the department said: "It is fair to say that Ireland is very mindful of the importance of transposing EU instruments accurately and on time.
"Both directives are quite technical and complex in nature and required extensive and ongoing consultation to bring forward into satisfactory draft formats."
(DW/BMcc)
European Commissioner Charlie McCreevy initiated the actions after the Department of Enterprise, Trade and Employment failed to meet a series of deadlines Tánaiste and Enterprise Minister Mary Coughlan had outlined in the Dáil.
The State faces another action over delays in taking action on selective company reporting practices, such as the Anglo Irish Bank disaster last year.
A spokesman for the Department of Enterprise said it deferred implementation of directives and missed summer time targets despite Ms Coughlan's apparent efforts to have both directives in place by December.
A spokesman from the department said: "It is fair to say that Ireland is very mindful of the importance of transposing EU instruments accurately and on time.
"Both directives are quite technical and complex in nature and required extensive and ongoing consultation to bring forward into satisfactory draft formats."
(DW/BMcc)
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