6 September 2006
Implementation of International Auditing Standards for all Statutory Audits in the European Union
FEE welcomes Article 26 of the Statutory Audit Directive. This provides for statutory audits of all companies to be carried out in accordance with international standards. FEE considers this approach to be in the public interest.
The Directive aims to ensure consistent high quality statutory audits in Europe. This requirement supports the belief that there should be one benchmark audit and this concept is referred to as âas audit is an auditâ.