Audit Conduct

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New EU Rules

Our Fall 2015 Newsletter is devoted solely to the new independence rules in the EU framework, which update the 2006 Statutory Audit Directive and create a new regulation that applies to statutory audits of “public interest entities”.  Rules applicable under the new reg. include limits on audit firm terms, tightened restrictions on nonaudit services, and a new nonaudit fee cap, among other things.  The Newsletter provides a recap of the more significant elements – which may impact US affiliates of EU companies (and vice versa) — and provides suggestions for firms’ consideration as they look to implement the new rules in their practices.