A group of European institutional investors representing combined assets of about €1.6trn has issued position papers expressing signficant concerns over accounting standards.

The papers argue that investors are being let down by accounting standards that faile to provide a sound basis for long term decision making.

Instead, the investors say, reforms to accounting rules being considered by Europe should be maintained, including commitment to mandatory audit firm rotation and greater disclosure about audits to shareholders.

Click here to review the positions on IFRS and Audit in general:

IFRS Group Position Paper

Audit Group Position Paper