Launched in 2010, the legislative process of the EU Audit Reform (EAR) reached an end as the new Regulation and the amended Directive were put to vote by the European Parliament on 3 April 2014. Succeeding this process, the European Commission granted EU Member States two years to implement the new legislation. This period officially ended on 17 June 2016.
Given the importance of this new regulatory environment across the EU, our goal is to shed some light on the EAR by providing you with a thorough understanding of its objectives and the major changes it will introduce to the audit market — both at the EU and Member State levels. In this regard, we seek to accompany you during the transition period and provide you with the necessary support to prepare— in an informed and timely manner—for this new EU market environment.