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?