Focus: Proposed audit reform in the European Union
Anticipating changes to the audit profession
All eyes are currently on the European Union (EU) as the European Commission’s (EC) audit reform proposals are discussed and debated in the halls of government, in board rooms, and in the media. Just how much change will result from audit reform remains to be seen. Deloitte has been following this matter closely.
Now is the time to contribute to the dialogue. Help legislators shape reform to achieve positive, smarter, and sustainable change.
The EU’s consideration of the proposals is ongoing. A number of process steps remain that could result in modifications to the proposals. Regardless of whether all the EC proposals are passed, as written, we still anticipate changes to the audit market and the working relationships between auditors and the entities they audit, including those entities’ audit committees.
The good news is there is still time to plan and prepare for the challenges as well as opportunities that may come with change. There are available avenues to participate in the process and to better understand the potential implications of change. Be ready; adapt to change on your terms. Wondering where to start?
Download the Deloitte Audit Reform Briefing to learn about the EC’s proposals and Deloitte’s perspective.
Contact us or your Deloitte Lead Client Service Partner to discuss how audit reform may affect you.