×
ECR

Audit deal should restore confidence

17 December 2013

Audit deal should restore confidence

The European Parliament’s lead MEP on new legislation to reform the audit sector today hailed a breakthrough in negotiations which should see a deal finalised when representatives of member states meet in Brussels tomorrow (Wednesday).

The European Parliament’s lead MEP on new legislation to reform the audit sector today hailed a breakthrough in negotiations which should see a deal finalised when representatives of member states meet in Brussels tomorrow (Wednesday).

British Conservative MEP Sajjad Karim spoke out after an outline agreement was reached in three-way- talks (or trilogue) this morning between the Parliament and the EU’s Commission and Council.

The breakthrough came when trilogue resumed this morning after failing to reach a compromise last night. It comes after months of sometimes fraught negotiation, including a decision by Mr Karim earlier this month to cancel scheduled negotiations because of a lack of will by some parties to compromise.

Mr Karim said: “This week’s trilogue on the audit reform package has been truly encouraging with constructive efforts from all sides to find a way forward.

“The key objective of the European Parliament to improve audit quality and audit reporting was secured in the proposed package and the strong involvement of the audit committee throughout the process, in particular for non-audit services was guaranteed.

“On the controversial issue of rotation a 20-year timespan was agreed, which is a workable compromise and a considerable improvement on the Commission’s original proposal.”

“The European Parliament is optimistic that the proposal can be approved by a majority of Member States and MEPs, considering it is a balanced compromise that will go a long way towards restoring confidence in the audit market”.

SHARE

ECR

OUR TWEETS

ECR Group

22 hours ago

Wishing all Christians around the world a blessed #Pentecost as they celebrate the birth of the Church. #WhitSunday pic.twitter.com/BiqCsIRroS

ECR Group

3 days ago

MEP @hermanntertsch: ‘Agriculture is vital, but with the #EUFarm2Fork we punish farmers with yet more bureaucracy.… twitter.com/i/web/status/1…

ECR Group

3 days ago

@GreenpeaceEU @AnnaZalewskaMEP it’s not about ignoring science, we simply seek to implement a climate change progra… twitter.com/i/web/status/1…

ECR Group

3 days ago

@GreenpeaceEU @AnnaZalewskaMEP Scientists talk science but politics must always consider the big picture. The ECR i… twitter.com/i/web/status/1…

ECR Group

3 days ago

MEP Anna Zalewska: ‘The #EUClimateLaw must include an impact assessment analysis to prepare our economies & citizen… twitter.com/i/web/status/1…

ECR Group

4 days ago

MEP Johan Van Overtveldt: ‘We need a flexible approach towards the #RecoveryFund whilst strengthening the internal… twitter.com/i/web/status/1…

ECR Group

6 days ago

We call on the EU to protect Hong Kong’s autonomy, rule of law and fundamental freedoms. Read our full statement he… twitter.com/i/web/status/1…

ECR Group

6 days ago

MEP Angel Dzhambazki: ‘The Conference on the #FutureofEurope must take into account arguments against a centralised… twitter.com/i/web/status/1…

ECR Group

6 days ago

Let's work together on the new EU-Africa partnership. The EU must now show the confidence to create a fresh & moder… twitter.com/i/web/status/1…

ECR Group

11 days ago

We are disappointed by the proposed radical changes to the EU’s food production policy. The EU should be prioritisi… twitter.com/i/web/status/1…





© 2018. All rights reserved. European Conservatives and Reformists Group