Publication

31 August 2016

Auditor selection: 4 steps to a more effective process

Companies are going to change their auditors more frequently than in the past. A good selection process is essential to enhance audit quality and ensure auditor’s independence. Therefore, this paper provides a four step approach for a high-quality selection process. We previously identified these steps in our 2013 paper Auditor selection: towards best practices which was based on a pan-European stakeholders’ survey and the work of an expert task force.

This guidance will benefit 1) companies on managing the auditor selection process and 2) shareholders assessing a company’s current selection process. It can be of use to select auditors irrespective of the regulatory environment, country, market segment, or size of the company – e.g. public-interest entities (PIEs) and small- and medium-sized enterprises (SMEs). Due to the diverse legal frameworks and governance structures across Europe, the reader may also need to refer to local company law and corporate governance requirements.

Related content

UpdateAudit Policy

6 July 2022

PublicationPublic audit oversight

29 June 2022

PublicationDefining a public interest entity

21 June 2022

PublicationStronger internal controls to reduce corporate risks

17 June 2022

UpdateAudit Policy

7 June 2022

PublicationNon-audit services

30 May 2022

PublicationMandatory rotation of auditors

30 May 2022

EventAudit quality: definition, drivers and indicators

18 May 2022

UpdateAudit Policy

12 May 2022

UpdateAudit Policy

13 April 2022

PublicationESG Governance

12 April 2022

UpdateAudit Policy

10 March 2022

UpdateAudit Policy

8 February 2022

NewsStronger corporate reporting in Europe – solutions by the accountancy profession

2 February 2022

Consultation responseEC’s consultation on corporate reporting – improving its quality and enforcement

2 February 2022

Consultation responseIAASB’s Exposure Draft on a New Standard for Audits of Less Complex Entities

26 January 2022

UpdateAudit Policy

14 December 2021

PublicationAudit facts: what you need to know on audit, auditors and supervision

22 November 2021

UpdateAudit Policy

19 November 2021

EventA Global Solution for Auditing Less Complex Entities

19 November 2021

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?