Encouraging transparent appointment procedures of statutory auditors or audit firms

The tendering process must take place under the responsibility of the audit committee of PIEs, and will require the latter to recommend to the board at least two choices of statutory auditors or audit firms, with a justified preference for one. In addition, the legislation includes several measures to remove barriers to entry, including encouraging non-dominant audit firms to participate in tenders.

For more information on future tendering processes, please consult our Factsheet.