EU APPROVES AUDIT REFORM AND FINANCIAL REPORTERS AWAIT IMPACT
April 11th, 2014
The European Union (EU) has ended nearly four years of speculation and uncertainty for auditors by agreeing a package of audit reforms that reflects major signs of compromise but which nevertheless will bring about big changes in the profession. The clear hope is that the changes will lead to a more competitive and effective audit profession, thereby helping prevent a repeat of the financial crisis of the last few years.Not all those involved in drawing up the legislation are happy with the outcome however. The European Commission’s original provision for ...
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