Attention Audit Committees! Are You Set For 2017? (Step 5)

Audit committees ("ACs") have taken on new roles since new regulation took effect earlier this year. In light of new questions that may arise, we've put together a 6-part series on the effects on ACs of the law of 23 July 2016 on the audit profession ("Law") and Regulation (EU) N° 537/2014 ("Regulation"). Read on for part 5, or browse our other articles first:

Step 5 – What kind of relationship should the AC maintain with the external auditor?
Step 6 – What should the additional report of the external auditor to the AC include?

In this article, we'll focus on step 5.

The tasks of the AC

In relation to the statutory audit, ACs are usually tasked with: