The EU Audit Reform paves the way for a new audit environment in Europe

Launched in 2010, the legislative process of the EU Audit Reform (EAR) reached an end as the new Regulation and the amended Directive were put to vote by the European Parliament on 3 April 2014. Succeeding this process, the European Commission granted EU Member States two years to implement the new legislation. This period officially ended on 17 June 2016.

Given the importance of this new regulatory environment across the EU, our goal is to shed some light on the EAR by providing you with a thorough understanding of its objectives and the major changes it will introduce to the audit market — both at the EU and Member State levels. In this regard, we seek to accompany you during the transition period and provide you with the necessary support to prepare— in an informed and timely manner—for this new EU market environment.

Our insight

Just adopted...

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Greece

Greece finalised the transposition of the EAR into its national regulatory framework by passing...

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Bulgaria

The Bulgarian parliament passed the new Independent Financial Audit Act, published on November...

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Lithuania

In December 2016, the Lithuanian parliament passed the Law on Audit, effective March 1, 2017,...

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Latvia

Latvia implemented the European Audit Reform by passing amendments to the Law on Sworn Auditors...

Ireland

The Irish government implemented the EU regulation by process of Statutory Instrument (S.I. No....

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Spain

The Spanish government completed implementation of the EAR on 9 July 2015, and obtained the...

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Portugal

The Portuguese government completed implementation of the EAR on 9 September 2015, when the...

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Slovakia

The Slovak government completed implementation of the EAR on 11 November 2015, when the National...

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Germany

The German Federal Government completed implementation of the EAR in two phases: It adopted the...

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Austria

The Austrian government completed implementation of the EAR by vote in parliament on 19 May 2016....

Sweden

France

The European audit legislation in France has been finalized and adopted on 18 March 2016. The...

Sweden

The Swedish government completed implementation of the EAR by vote in parliament on 18 May 2016....

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