EU Audit Reform 

EU legislation to reform the statutory audit market was adopted in April 2014. The new legislation will apply from 17 June 2016 – with the exception of mandatory firm rotation, which is subject to separate transition arrangements.

EU Audit Reform

The legislation means that mandatory firm rotation of statutory audit firms will be introduced into the EU on a 10 yearly basis or less for all EU public interest entities. It also brings additional restrictions on the non-audit services that audit firms can provide to these clients, along with enhanced reporting and corporate governance requirements. This will have significant impact on how companies will select, structure and manage their professional adviser relationships.

 

We have provided a summary of the impacts that are likely to affect you, and some detail of the legislation in our publication available for free download below.

 

If you have any questions at all, please contact a member of our audit team.

Audit contacts

Conall O Halloran, Head of Audit

Conall O'Halloran

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Partner & Head of Audit

conall.ohalloran@kpmg.ie

+353 1 410 2058

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Request for proposal – RFP

We can assist with the issues your business is facing and provide the services you require.

 

Click here to submit an RFP.

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