The EU Audit Reform: setting the foundation of a competitive European audit market

Our goal is to shed some light on the EU Audit Reform (EAR) by providing you with a thorough understanding of its objectives and the major changes it introduces to the audit market. In this regard, we seek to accompany you during the transitional period and provide you with the necessary support to prepare— in an informed and timely manner— for this new market environment. We will keep you updated on Member State implementation laws as they are being adopted.

What motivated the EU to adopt such a reform?

Creation of a European oversight body - Copie1086X202.jpg
The EAR was launched following the 2008 global financial crisis. Though banks, rating agencies and hedge funds were the primary suspects, the European Commission (EC) also raised the issue of the role of auditors and their failure to detect the necessary warning signs leading up to the crisis. We invite you to learn more about why the EC adopted this reform in 2014 and what this means for the European audit market.

Read more

What are the main measures introduced by the EAR?

The motivation behind the EAR – 1086.jpg
The EAR introduces some noteworthy changes in the European audit market, that have an effect on businesses all over Europe, particularly Public Interest Entities (PIEs). One of the most important changes is the mandatory rotation requirement for auditors of PIEs. We invite you to learn more about these changes and assess how they affect your organization.

Read more

How will the transitional period be organized?

1086 - A transitional regime that introduces gradual change.jpg
The EAR is effective since 17 June 2016.
To gradually introduce the new measures, the EU has devised a transitional regime for ongoing audits that are entering the new regulatory environment.

Read more

How are Member States adopting the EAR?

1086 - Implementing the EAR at Member State level .jpg
The regulatory environment for businesses across Europe is largely affected by individual Member State legislations. As the EU Audit Reform (EAR) contains several options for EU Member States that extend beyond the EU baseline measures, rules can vary from one Member State to the next. Our aim is to provide you with a detailed overview of how local legislation is being adopted.

Read more

Further insights

1086 - Creation of a European oversight body - Copie.jpg

Guidebook to the EAR

Our guidebook explores the baseline measures of the EAR and offers relevant insight into how to respond to the changes.

Download pdf 3.06 MB

1086 - Joint Audit.jpg

What you need to know about joint audit

The recognition given to joint audit within the new regulation reinforces the idea that the system is a proven and valued option. As an expert on joint audit, we invite you to learn more about its concept, its methods and its associated benefits.

Download pdf 7.17 MB