Stephen Haddrill responds to EU audit vote
News types: Generic Announcement, Statements
Published: 3 April 2014
"The Financial Reporting Council welcomes the positive vote today by the European Parliament in favour of the EU audit reform. We commend the work of the EU institutions in working together, compromising where necessary; to ensure that the EU retains a high quality and competitive audit market.
The FRC is especially pleased that EU legislation will now be following the UK’s example of retendering an audit every 10 years. For the FRC, these developments are most important because they contribute towards the enhancement of quality in financial reports and audits that can engender trust within the investor community, not only in the UK, but across Europe."