About: audit reform
EU seals agreement on audit sector shake-up
Proposals forcing companies to change accountants every ten years were agreed yesterday (17 December) as part of a wider EU package to reform the audit sector.
EU talks on auditor switching put on hold
Negotiations on a European Union draft law forcing companies to switch accountants about every 10 years are on hold due to disagreements over other planned curbs on auditors, an EU lawmaker said on Wednesday (4 December).
Deal on company auditing edging closer: EU lawmaker
The European Union could be less than a month away from a deal forcing the bloc's listed companies to change their accountant every decade, a senior EU lawmaker said on Monday (25 November).
UK regulator wants 10-year tenders for audit firms
The UK’s Competition Commission yesterday (15 October) published a report on the competitiveness of the audit market broadly chiming with changes currently under debate at European level. VideoPromoted content
The Changing Face of Financial Reporting and Auditing
With new auditing rules and underlying regulations on cross-border taxation, one of Europe’s traditional strength services – financial reporting – faces challenges on several fronts: Corporate governance initiatives are increasing the range and substance of traditional corporate reports;
Parliament to challenge international accounting standards
EXCLUSIVE / MEPs later this month will ask the European Commission to overhaul auditing standards for European companies and banks in a move likely to challenge the accounting profession and stir US-European relations.
MEPs dilute audit reform rules
European Union plans forcing companies to change accountants regularly were watered down on Thursday (25 April), providing some relief for the "Big Four" auditors that check most large company books.
Battle brewing over new rules for auditors
Proposed restrictions on auditing firms are likely to spark a fight between the European Parliament and Commission as legislators finalise a report on the issue next month.
Big audit firms await UK judgment
The "Big Four" accounting firms should find out this week how their grip on Britain's audit market could be loosened in a ruling Europe and the United States will scrutinise.
Top audit firms brace for new UK, EU rules
PricewaterhouseCoopers held the top spot in rankings for accounting income last year, a sector where fees are being squeezed by increased regulatory scrutiny and competition, according to an industry survey published on Wednesday (30 January).
UK’s Europe ‘audit’: True debate or eurosceptic vote-winning ‘ploy’?
The statement from British Foreign Secretary William Hague that his government would conduct a full "audit" of the impact of EU law on Britain has been condemned by commentators as a mere public relations stunt. But the coalition government has defended it as a chance for constructive debate on the role of the EU institutions at national level.
Audit urges stronger enforcement of organic foods
Consumers who are willing to pay extra for organic fruits, vegetables and other goods may not always get what they are hoped for due to lax oversight in some EU countries.
Commission braced for battle with big audit firms
The European Commission has set itself on collision course with the largest audit companies with its proposed regulation that will radically overhaul the management and structure of the service sector, despite controversial plans for joint auditing being dropped.
Brussels to announce audit sector shake-up
The European Commission will clarify tomorrow (30 November) the details of a plan that is aimed at profoundly changing the way audits are carried out in the 27-nation bloc, EURACTIV has learned.
Digital cloud providers face EU privacy audits
The European Commission believes it is only "logical" that companies providing cloud services over the Internet face audits on whether they are keeping their promises on personal data security.
Brussels mulls shake-up of Big Four auditors
The "Big Four" global auditors could be broken up, leaving them susceptible to takeovers if radical European Union plans to boost competition go ahead, a UK auditing official said yesterday (27 September).
Germans reject Commission’s audit proposals
Key German decision-makers last week (5 May) rejected the scope and content of a planned radical overhaul of corporate governance rules affecting auditors, due to be launched by the European Commission later this year.
Commission mulls auditing sector shake-up
The European Commission said on Wednesday (13 October) that it would propose a reform of the auditing sector next year after the financial crisis uncovered failings in how it operated.
Auditors highlight EU funds’ risk exposure
European Commission departments should cooperate more closely in spreading funding across a range of financial institutions to reduce the EU executive’s exposure to risk in the event of banking failures, found a report released yesterday (16 June) by the European Court of Auditors.
‘Disappointment’ as auditors reject EU accounts
The majority of payments made by the EU in 2007 were regular, according to a report published on 10 November. But some members of the European Parliament have expressed 'acute disappointment' after auditors failed to sign off the EU accounts for the fourteenth consecutive year, identifying errors in two to five percent of payments made to the bloc's member states.