What are the main measures that will change the EU audit market?

The EAR introduces some noteworthy changes in the European audit market, and will have an effect on businesses all over Europe, particularly Public Interest Entities (PIEs). One of the most important changes is the mandatory rotation requirement for auditors of PIEs. We invite you to learn more about these changes and assess how they affect your organization.

The primary changes affecting PIEs and their auditors

The reform will bring about important changes for PIEs operating in the European Union. In order to help you anticipate these changes, we are providing you with a summary of the key changes brought about by the EAR. 

Fostering a secure market by creating a European Oversight System

The EAR requires each Member State to designate a single Competent Authority to bear ultimate responsibility for the audit oversight system. In addition to national surveillance, coordination among Member States will be supported by a new Committee of European Auditing Oversight Bodies (CEAOB).

Wie wird die Übergangsphase gestaltet?

Mitgliedsstaaten sind verpflichtet, die Verordnung und Richtlinie bis zum 17. Juni 2016 umzusetzen. Die EU hat eine Übergangsregelung für bereits laufende Abschlussprüfungen entwickelt, in deren Rahmen die Bestimmungen des neuen regulatorischen Umfeldes schrittweise eingeführt werden.