According to the 4th Directive of the EC

According to the 4th Directive of the EC,

A) the "true and fair view" must be used by countries that do not have an adequate companies law.
B) accounting directives must be adopted by the accounting profession rather than included in national law.
C) all companies, regardless of size, will have to use the same financial statement formats.
D) EU companies must now adopt more similar approaches to information disclosure, classification and presentation of information, and methods of valuation.