This publication highlights how differently 30 European countries have implemented the 2014 European Union (EU) audit rules on mandatory rotation of auditors, especially when it comes to extending the maximum duration of the auditor’s engagement through tender or joint audit. Different national regimes lead to complexity, additional compliance costs and practical and operational difficulties for internationally operating companies and audit firms. Therefore, we propose streamlining these rules to create a level playing field in Europe.

With this paper, we aim to inform policymakers in the context of the European Commission’s ongoing initiative on corporate reporting.