PracticeAuditEC calls for audit transparency

EC calls for audit transparency

The European Commission is expected to call for greater transparency from the Big Four firms today as it outlines plans to improve the regulation of auditors in the European Union.

Link: Transatlantic audit battle rumbles on

In a statement due to be published by the EC, the Commission will argue the need to exercise adequate quality control over all the country partnerships of firms, with concerns raised that the degree of local autonomy in the country partnerships among Big Four firms was too strong.

The statement is also expected to hit out at American attempts to regulate European auditors who work for companies with a listing in the US and may also trigger the launch of an investigation into restrictions on firms offering non-audit services to audit clients.

Related Articles

The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

6d Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

7d Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

3w Alia Shoaib, Reporter
EY to audit Standard Chartered bank

Audit EY to audit Standard Chartered bank

1m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2m Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

2m Emma Smith, Managing Editor
FRC closes investigation into PwC over Barclays compliance

Accounting Firms FRC closes investigation into PwC over Barclays compliance

2m Alia Shoaib, Reporter