Secondly, the introduction of the euro itself will reinforce competition: the disappearance of exchange risk and transaction costs in the future euro area will result in a high degree of market integration, especially in the financial sphere.
Further, the secretarial standards cover the entire range of company operations including conduct of meetings, dividends, shares, maintenance of records, inter-corporate interactions, contracts, appointment of auditors, etc. which PCSs will need to assess. 22.