Mazars welcomes EU Audit Reform and looks forward to its smooth implementation

Mazars welcomes the adoption of the new EU Regulation on the audit of Public Interest Entities and the amended Directive on statutory audits by the European Parliament and looks forward to its European wide implementation. Since the reform was launched in 2010, Mazars has been an active contributor to the intense and fruitful debate that has led to this positive vote and the forthcoming creation of a more integrated Single European Audit Market that is efficient, transparent and diversified.

Primary changes to come with this reform

  • Joint Audit to increase independence
  • A list of prohibited non-audit services and a threshold on permitted non-audit services provided by the audit firm

The most measures will be applicable in two years’ time (mid 2016).

What this reform represents

See Patrick de Cambourg’s interview on the European Audit Reform

http://www.mazars.com/Home/Insights/Mazars-welcomes-European-audit-reform