Harmonisation of the rules relating to companies is essential for creating a Single Market for financial services and products.
The company law sector can be divided into two subsections: basic company law and accounting/auditing.
Basic company law covers fundamental company law issues. It also covers various safeguards, such as disclosure of company information, restructuring of companies and measures for the protection of shareholders and creditors, such as capital maintenance requirements.
The accounting acts provide minimum requirements as regards the financial information that should be made available to the public by undertakings and groups of undertakings. The auditing acts harmonise the required qualifications of persons entitled to carry out the statutory audit of accounting documents and attempt to ensure that such persons are independent and of good repute.
Annex XXII to the EEA Agreement (PDF) , which lists all applicable EEA company law acts and specific adaptations for the EFTA States