The Seventh Directive on consolidated accounts and company law harmonization in the European Community

The text of the Seventh Community Directive on company law dealing with consolidated accounts ¹ is neither perfect nor easy, but there can be no doubt of its great importance, first for the accounting rules of member states, and second for the accounting practices of all undertakings engaged in activities within the EC, including subsidiaries of companies from abroad. So the topic merits thorough exploration.