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Deloitte comment letter on the FEE discussion paper 'The Future of Audit and Assurance'

Published on: 16 Sep 2014

We have published our comment letter on the Federation of European Accountants (FEE) discussion paper 'The Future of Audit and Assurance'. We commend FEE for issuing a discussion paper on this important topic and agree that the provision of independent third party assurance on corporate reporting needs to be examined.

The future of audit and assurance is an important corollary of the wider debate on corporate reporting of financial and non-financial matters. In the medium and long term, we support the development of a holistic, forward-looking and strategy oriented approach to corporate reporting. This will help provide users with a longer-term and broader perspective, complementing the financial statements. It is important that the development of this reporting and associated assurance models are driven by users' legitimate and reasonable needs, taking into consideration both the costs and benefits.

The discussion paper itself is available from the FEE website and the full comment letter can be downloaded below.

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