Brussels, 8 June 2015

Preceding the first European Parliament plenary vote on the negotiations for the Transatlantic Trade and Investment Partnership (TTIP), this FEE Information Paper explores how this trade and investment deal could be relevant for the accounting and audit profession. It addresses three relevant subjects that have come up in the negotiations between the EU and USA, namely:

• recognition of the professional qualifications of accountants and auditors
• standards for the accounting profession
• oversight of the audit profession

Background:

• Since July 2013, the European Union and the United States have been negotiating a trade and investment deal: the TTIP. TTIP aims to make it easier for the EU and USA to invest in each other’s economies and to buy and sell each other’s goods and services. Not only by removing trade barriers, but also by making their rules more compatible, so EU/US companies can more easily access each other’s markets.
• The 28 EU Member States have mandated the European Commission to negotiate with the USA on their behalf. The Commission coordinates closely with the Member States and with the European Parliament, who will ultimately have to approve of the trade agreement. The EU and the USA expect to conclude their negotiations in 2016.
• On 10 June 2015, the plenary European Parliament will vote on a report containing the European Parliament’s recommendations to the European Commission on the negotiations for TTIP.

Related Document

FEE Information Paper on the Transatlantic Trade and Investment Partnership (TTIP)

More information

European Commission’s TTIP website
TTIP in 6 pages
Questions and Answers
Services in TTIP