Factsheet on the new 2014 Audit Directive and Regulation with focus on SMEs

European Directive on Statutory Audits of Annual and Consolidated Accounts and Regulation on Statutory Audit of Public Interest Entities

The audit reform, taking the form of a Directive and a Regulation, has been approved in April 2014 and published in the Official Journal of the European Union on 27 May 2014.

The aim of this Factsheet is to both highlight any significant changes between the 2014 Directive and the 2006 Statutory Audit Directive (2006/43/EC) and reiterate significant requirements contained in the Directive as well as in the Regulation.

FEE has also prepared a dedicated Factsheet highlighting aspects which are of specific relevance to SMEs.

Related documents

Factsheet on Audit Policy

Factsheet on Audit Policy – SMEs

European Regulation on statutory audit of public-interest entities

FEE FAQ on European Directive on Statutory Audits of Annual and Consolidated Accounts and Regulation on Statutory Audit of Public Interest Entities

FEE 2014 Audit Reform Options Comparison Tables

FEE Unofficial advance text of 2014 Audit Directive & Table of Amendments to Statutory Audit Directive 2006

FEE Press Release on EP vote 3 April 2014