Regulation of statutory audit in the European Union: New developments

Dewing, Ian P. and Russell, Peter O. (2002) Regulation of statutory audit in the European Union: New developments. Journal of Financial Regulation and Compliance, 10 (1). pp. 68-78.

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This paper examines latest thinking and new developments in the regulatory framework for statutory audit at European Union (EU) level. It follows an earlier paper, published in this journal. Since 1999 when the paper was drafted, even more developments have occurred both at an EU level and in the USA, which are likely to have a significant impact on statutory audit in the EU in years to come. Latest developments are reviewed in three areas: profession related issues; company law issues; and, accounting and auditing standards. The paper concludes that significant advances have been made towards completion of the regulatory framework of statutory audit in the EU. What remains of concern is a lack of progress towards adoption of international auditing standards. Unless financial statements are both prepared and audited in the same way, it is difficult to see how financial information in the EU can ever be truly harmonised.

Item Type: Article
Faculty \ School: Faculty of Social Sciences > Norwich Business School
UEA Research Groups: Faculty of Social Sciences > Research Groups > Accounting & Quantitative Methods
Depositing User: Julie Frith
Date Deposited: 26 Apr 2013 11:54
Last Modified: 15 Aug 2023 14:30
DOI: 10.1108/13581980210810139

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