European study on ownership rules for auditing firms
24 Oct 2007
The Internal Market Directorate of the European Commission has published an independent study on the ownership rules that apply to audit firms and the consequences of those rules on audit market concentration.
The study analyses whether changes to the ownership rules of audit firms might help increase the number of international players in the audit market. At present, the European Statutory Audit Directive requires that auditors hold a majority of the voting rights in an audit firm and control the management board. Click to download the EC Press Release (PDF 88k). Click here for Links to Download the Report and an annex of relevant legislative requirements in 18 EU member states.
Key conclusions of the study:
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