EU AUDIT
April 1st, 2002
BY ALAN OSBORNA PAPER released yesterday (Thursday) by the financial services of the European Commission says that supervision of the EU audit profession "must be enhanced" in the wake of the Enron disaster. "There are currently no agreed auditing standards in the EU and no European mechanism to deal with such supervision," the paper notes, adding that the Commission will present later this year a Communication (discussion paper) on auditing strategy.Prior to that, Brussels will issue formal guidelines (a Recommendation) requiring auditors to prove that none of ...
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