Press Release: International audit market: consultation respondents recognise need to remove barriers to entry

On 15 July, 2009, the European Commission published a summary of the replies received to the public consultation on control structures in audit firms and their consequences on the audit market, which was launched in November 2008. Stakeholders recognise the need to open up the market for the audit of international companies to more suppliers or at least to ensure that the current market structure does not deteriorate further. The vast majority of respondents favoured therefore removing all barriers that may prevent new firms from entering the international audit market and successfully establishing themselves.