Accountancy Europe welcomes European Commission Communication on the competitiveness of the EU banking sector and the Single Market in banking, published on 17 July 2026. The Communication rightly recognises the need to simplify the regulatory framework while preserving the resilience and stability that Europe’s banking system has built over the past decade.
Accountancy Europe brings extensive expertise to this discussion through its Banks Working Party, which represents the auditors of many of Europe’s major banks. This group meets regularly with European and national regulators, supervisors and standard setters and has first-hand experience of the practical application of banking regulation, financial reporting and audit requirements.
As such, we support the Commission’s ambition to simplify the regulatory environment and strengthen the competitiveness of European banks. A more proportionate and risk-based approach can help reduce unnecessary complexity while maintaining confidence in the banking sector.
Eelco van der Enden, Accountancy Europe’s CEO, said:
“Europe needs a banking framework that enables banks to support growth, innovation and investment while maintaining the high levels of resilience achieved since the financial crisis. Simplification should make regulation more effective, not less robust.”
The profession also welcomes the Commission’s call for a “cultural shift” towards a more risk-based approach to banking regulation and supervision. Such a shift should be firmly anchored in high-quality financial reporting and robust, independent audit, which remain essential foundations for financial stability, market confidence and effective risk management.
Eelco added:
“Moving towards a more risk-based supervisory approach is a positive direction, but it requires a shared commitment from banks, banking supervisors, audit regulators and the accountancy profession. Simplification is a matter for the ecosystem as a whole.”
Meaningful simplification can only be achieved through close dialogue between all relevant stakeholders. Such cooperation is essential to identify practical solutions that reduce unnecessary complexity without weakening trust in the financial system.
Today’s Communication echoes issues that Accountancy Europe has been raising for some time. In it’s 2025 information paper on the interaction between banking supervisory expectations and financial reporting requirements, we highlighted the need for a deeper dialogue between supervisors, banks, auditors and standard setters to acknowledge differences between prudential supervisory objectives and financial reporting requirements.
Accountancy Europe looks forward to contributing its technical expertise to the discussions that will follow the Communication’s publication, and to working with policymakers and stakeholders to ensure Europe’s banking framework remains resilient, proportionate and fit for the future.
“Our profession stands ready to do its part. We urge other stakeholders in the ecosystem to share this commitment”, Eelco concluded.
