Attention Audit Committees! Are You Set For 2017? (Step 6)

Welcome to the final part of our 6-part series of articles about how audit committees ("ACs") can prepare and deal with new legislation. Specifically, the law of 23 July 2016 on the audit profession ("Law") and Regulation (EU) N° 537/2014 ("Regulation") will affect the roles and responsibilities of ACs, as well as their relationships with external auditors.

Step 6 – What should the additional report of the external auditor to the AC include?

In this article, we focus on step 6.

In addition to its expanded audit report, the statutory auditor of a public interest entity ("PIE") is also required to provide a specific written report to the AC. This report is part of the new requirements for statutory auditors of PIEs to give more insights on the audit.