Publication

9 July 2020

Organisation of the public oversight of the audit profession in 30 European countries Survey results

Enhancing companies’ credibility through audit ensures that stakeholders make informed decisions based on these companies’ financial statements. In parallel, public oversight ensures audit quality. 

The revised European Union (EU) statutory audit rules significantly impact how the public oversight of statutory auditors and audit firms is organised. Designated national public oversight bodies have the ultimate responsibility for the oversight of the audit professionThey can delegate certain tasks to other authorities and professional bodies. 

This survey presents the impact of the 2014 EU audit legislation. Our findings show that the national public oversight bodies now carry out many activities previously in the competence of the professional bodies. 

This survey also provides an overview of how the public oversight is organised in each of the 27 EU Member States, Iceland, Norway and the United Kingdom, i.e. composition, fundingtransparency and key activities of the national public oversight bodies and delegation of tasks to other bodies. 

This publication is based on the input of our members and it is part of a series of work done by Accountancy Europe on the 2014 rules on statutory audit. It is an updated version of our previous work:  

Related content

PublicationHow is access to the European accountancy profession regulated?

7 July 2020

PublicationOrganisation of the public oversight of the audit profession in Europe

13 March 2018

PublicationFEE provides unique overview of national public audit oversight in 23 European countries

13 July 2015

EventImplementing ESEF

12 October 2020

UpdateAudit Policy

13 July 2020

PublicationHow is the European accountancy profession organised?

9 July 2020

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

9 July 2020

PublicationHow is access to the European accountancy profession regulated?

7 July 2020

UpdateAudit Policy

23 June 2020

PublicationCoronavirus’ impact on ongoing audits

19 June 2020

Consultation responsePublic letter to the IAASB: progress on draft standard for auditing less-complex entities

11 June 2020

Stories from PracticeSME auditor brings good governance to charities

9 June 2020

UpdateAudit Policy

7 May 2020

PublicationCoronavirus’ impact on auditing for 2019 year-ends and beyond

30 April 2020

Podcast Reporting and auditing during the coronavirus pandemic

23 April 2020

PublicationCoronavirus crisis: country responses to the implications on reporting

10 April 2020

PublicationAudit exemption thresholds in Europe

9 April 2020

PublicationThe scope of bank audits in Europe

8 April 2020

UpdateAudit Policy

6 April 2020

UpdateAudit Policy

12 March 2020

Consultation responseIPSASB’s public consultation on oversight arrangements

27 February 2020

UpdateAudit Policy

14 February 2020

UpdateAudit Policy

8 January 2020

Sign up for our newsletter