Press Release: Audit firms: Commission consults on ways to help create more market players

The European Commission launched a public consultation on control structures in audit firms and on the possible ways forward. This followed an independent study on the ownership rules of audit firms and their consequences for audit market concentration. The purpose of the consultation was to examine possible ways for finding catalysts to stimulate the emergence of new players in the international audit market. This may include deregulation of the capitalisation of audit firms (unbundling) and other catalysts related to human capital of audit firms. The Commission invites stakeholders to give their views on the issues involved by 28 February 2009.