Date: 25th September 2012
Author: Guillaume Prache, EuroFinuse
Type: Press Releases
EuroFinuse strongly opposes the weakening of this key reform by the European Parliament’s Draft Report on the proposed Regulation and Directive published on 4 September. Regulatory interventions are crucial to restore confidence in the audit market. EuroFinuse therefore mainly advocates for: ”¢ Mandatory tendering every 5 years;
Ӣ Mandatory rotation every 15 years;
Ӣ Inclusion of UCITS, Alternative Investment Funds, Investment Firms, payment institutions and electronic money institutions under the scope of the Audit Regulation;
Ӣ Approval by the Audit Committee and disclosure to shareholders in the General Assembly of the provision of non-audit services by statutory auditors.
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