The European Commission has published a consultation paper considering whether the International Standards on Auditing of the International Auditing and Assurance Standards Board should be adopted for statutory audits required by Community law (such adoption is permitted by Article 26 of the Statutory Audit Directive (2006/43/EC)). The Commission has also published an independent study exploring the costs and benefits of such adoption (an executive summary is available here).
Tuesday, 23 June 2009
Europe: Commission consults on the adoption of International Auditing Standards
The European Commission has published a consultation paper considering whether the International Standards on Auditing of the International Auditing and Assurance Standards Board should be adopted for statutory audits required by Community law (such adoption is permitted by Article 26 of the Statutory Audit Directive (2006/43/EC)). The Commission has also published an independent study exploring the costs and benefits of such adoption (an executive summary is available here).
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