Translation of "Service de mécanographie comptable " (French → English) :

When a Central Securities Depository (CSD), as defined in point (1) of Article 2(1) of Regulation (EU) No 909/2014 of the European Parliament and of the Council , or a third-country CSD provides the services of operating a securities settlement system as well as at least either the initial recording of securities in a book-entry system through initial crediting or providing and maintaining securities accounts at the top tier level, as specified in Section A of the Annex to that Regulation, the provision of those services by that CSD with respect to the securities of the UCITS that are initially recorded in a book-entry system through ini ...[+++]tial crediting by that CSD should not be considered to be a delegation of custody functions.

29. Takes the view that there should be clear demarcation between the audit services and non-audit services that an audit firm provides to a customer, with a view to avoiding conflicts of interest as referred to in Article 22(2) of Directive 2006/43/EC and in accordance with codes of auditing practice; points out that this could restrict ‘lowballing’, the practice of offering cut-price auditing with a view to then offsetting the lower price by charging for additional services; takes the view, therefore, that the demarcation must apply to all firms and their clients; calls on the Commission, with reference to the 2002 Recommendations o ...[+++]n Statutory Auditor Independence, to draw up a list of conditions under which such services would be deemed incompatible with audit services; recognises that the provision of non-audit services, where not incompatible with auditor independence, can play an essential role in broadening the skills base of small and medium-sized audit firms, but takes the view that internal and external audit services should not be provided simultaneously;

29. Takes the view that there should be clear demarcation between the audit services and non-audit services that an audit firm provides to a customer, with a view to avoiding conflicts of interest as referred to in Article 22(2) of Directive 2006/43/EC and in accordance with codes of auditing practice; points out that this could restrict ‘lowballing’, the practice of offering cut-price auditing with a view to then offsetting the lower price by charging for additional services; takes the view, therefore, that the demarcation must apply to all firms and their clients; calls on the Commission, with reference to the 2002 Recommendations o ...[+++]n Statutory Auditor Independence, to draw up a list of conditions under which such services would be deemed incompatible with audit services; recognises that the provision of non-audit services, where not incompatible with auditor independence, can play an essential role in broadening the skills base of small and medium-sized audit firms, but takes the view that internal and external audit services should not be provided simultaneously;

19. Considers that allowing foreign law and accounting firms to operate in India would bring significant benefits for the Indian economy and professions, as well as for European firms which have expertise in international law and accountancy and for their clients; calls on the Commission to explore with the Indian authorities the opportunities and scope for liberalisation of legal services and accounting services under the FTA;

11. Advocates a cautious approach concerning services liberalisation; considers a positive list as the most convenient tool with respect to services and asks the Commission to exclude public services such as drinking water supply from liberalisation; warns against aggressive approach concerning legal and accountancy, financial and retail services; Expects the Commission to give its assurance that speculative financial instruments are explicitly excluded from the scope of the agreement, too;

18. Considers that allowing foreign law and accounting firms to operate in India would bring significant benefits for the Indian economy and professions, as well as for European firms which have expertise in international law and accountancy and for their clients; calls on the Commission to explore with the Indian authorities the opportunities and scope for liberalisation of legal services and accounting services under the FTA;