Accounting reform in the European Union (EU) will impact on the relationship between a public-interest entity and its auditor from 2016. How will these changes affect your business?

There is a new EU regulation with specific requirements regarding the statutory audit of Public-Interest Entities (PIEs). A regulation has binding legal force throughout the EU and will override national law where there is a conflict.

In this briefing we look at:

  • who will be affected?;
  • when will the changes come into effect?;
  • what are the headlines?;
  • what will change in practice?;
  • what are the rules on non-audit services provided by a company's auditor?;
  • what are the rules regarding a cap on fees for non-audit services?; and
  • will there be any impact beyond the EU?