1 August 2014

FEE issues a Briefing Paper on appointment of auditors

FEE seeks to provide an overview of the changes included in the updated European Union (EU) requirements regarding the appointment of the auditor and the duration of the audit engagement.

These requirements introduce a number of Member State options relating to this topic and FEE is committed to informing the choice of Member States with the objective of creating a workable single market in this respect and enhancing consistency of application throughout the EU as far as possible.

Whilst primarily targeted at the auditing profession in the EU, the audit legislation also imposes requirements on businesses, i.e. on Public Interest Entities (PIEs) and their audit committees.

Therefore, it is preferable to help promote the consistency of the regulatory framework governing statutory audit across the EU and to ensure that any additional burden on business is minimised given the cost implications that may result for them. EU Member States have a one-time opportunity to get this right and should keep the burden on business in mind when transposing, applying and implementing this legislation in their jurisdictions.

This publication is the third in a series of briefing papers that FEE has done to enhance stakeholders’ understanding of the EU reform. Please also see our papers on provision of non-audit services, provision of non-audit services and auditor communication.

Related content

EventSustainability assurance under the CSRD: practical implications

22 June 2022

PublicationSustainability assurance under the CSRD

10 May 2022

PublicationESG Governance

12 April 2022

PublicationSupply chain sustainability assessment

28 January 2022

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

22 November 2021

PublicationOrganisation of the public oversight of the audit profession in 30 European countries

8 November 2021

PublicationImplementation of the 2014 EU Audit Directive and regulation in 30 European countries

8 November 2021

PublicationFAQs on sustainability information assurance

3 November 2021

PublicationNon-audit services and auditor’s independence

2 November 2021

EventMembers’ Engagement Day

20 October 2021

Consultation responseEC’s proposal of an EU standard for green bonds

22 September 2021

Consultation responseEC’s Corporate Sustainability Reporting Directive proposal – feedback statement

1 July 2021

Consultation responseIESBA’s proposed revisions to the definitions of listed entity and public interest entity in the...

5 May 2021

EventWorking Together for the planet: Audit & Assurance of sustainability Information

29 April 2021

PodcastAn inside look into the BEIS consultation

23 April 2021

PodcastGet your seat at the top table

5 March 2021

Publication10 most popular publications in 2020

2 February 2021

EventThe path to high-quality non-financial information assurance

26 November 2020

NewsOur work towards the Future of Corporate Reporting

2 November 2020

BlogReliable non-financial information to progress sustainable finance

21 October 2020

Sign up for our newsletter

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