EU audit reform reduced to ‘paper tiger’

EUObserver reported on the 23 January 2014 the EU was close to overhauling rules for financial auditors, while critics mentioned the reform would be a paper tiger unable to break up the dominant position of the world's four biggest audit firms.

The legal affairs committee of the European Parliament approved on the 21 January 2014 a draft agreement struck in late 2013 with member states and the European Commission on the so-called audit reform package.

ESO: Background information: Commissioner Michel Barnier welcomes provisional agreement in trilogue on the reform of the audit sector http://www.europeansources.info/record/memo-commissioner-michel-barnier-welcomes-provisional-agreement-in-trilogue-on-the-reform-of-the-audit-sector/

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