The European legislative framework for audit committees

Research output: Contribution to journalArticleScientificpeer-review

Abstract

In 2014 the European Union reformed the regulatory framework of statutory audits in Directive 2014/56/EC and Regulation (EU) Nr. 537/2014. Part of the new legislation addresses the composition and responsibilities of the audit committee of public-interest entities. This contribution studies the innovations for audit committees. It is shown that many new requirements are very detailed and will force audit committees to develop new procedures. We fear that some of these new requirements are too prescriptive and will not necessarily reach the goal of better audits.
Original languageEnglish
Pages (from-to)26-33
Number of pages8
JournalEuropean Company Law
Volume12
Issue number1
Publication statusPublished - Feb 2015

Keywords

  • Audit committee
  • Corporate Governance
  • Monitoring
  • Auditor
  • Independence

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