The European Commission adopted Commission Implementing Decision (EU) 2016/1223 recognising the equivalence of certain third country public oversight systems, and extending the transitional period for audit activities of auditors and audit entities of some other third countries in the European Union

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The European Commission adopted two decisions recognising the equivalence and adequacy of the US auditor oversight authorities

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New framework for cross-border cooperation on audit supervision

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European Commission adopted Commission Implementing Decision (EU) 2016/1010 on the adequacy of the competent authorities of certain third countries and territories pursuant to Directive 2006/43/EC

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The new EU audit rules take effect

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The Commission services published an additional “questions and answers” document to help facilitate the transition to the new EU rules on statutory audit

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On 4 March 2016, about 80 participants attended a one-day stakeholder workshop on the implementation of the new EU audit rules organised by the European Commission, DG Financial Stability, Financial Services and Capital Markets Union.

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Slovakia adopted on 11 November 2015 the new Act on statutory audit. An unofficial English translation is available on the website of Slovakia’s national audit authority UDVA.

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The European Insurance and Occupational Pensions Authority (EIOPA) launched on 3 February a consultation, running until 28 April 2016, on draft Guidelines to facilitate the dialogue between insurance supervisors and auditors

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The European Commission published an additional “questions and answers” document on the new EU rules on statutory audit to help smooth the path to implementation

Auditing

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