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Other information:
Statutory audit. The Commission has adopted a Communication on the future direction of statutory auditing in the EU. The Communication outlines a work programme, the main areas of which will be reviews of auditing standards, audit quality control systems and rules on auditor independence. The work will be carried out mainly in the framework of a new Committee on Auditing and will aim to improve the quality and consistency of auditing throughout the Member States, thus providing more certainty to users of financial reports. The Commission does not envisage new legislation or amendments to existing legislation at this stage, but will not hesitate to come forward with legislative proposals should this prove necessary.
Source: Official Journal C143, 8.5.98, p12; Press Release
(European Commission), IP/98/399 (7.5.98)
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