Originally posted on 18 Dec 2013
A framework of EU audit reform has been preliminarily agreed during the final trilogue by the Lithuanian EU Council presidency and the European Parliament, reports Accountancy Age on 17 December 2013.
During the last trilogue negotiations preliminary agreement was reached over the whole legislative package of EU audit reforms, which include forcing EU listed companies to change their auditors.
The framework is now subject to the final agreement by member states later this week.
The reforms, originally proposed by EC internal markets commissioner Michel Barnier in 2010, are intended to reduce the concentration of the audit services being provided by the Big Four accountancy firms of PwC, KPMG, Deloitte and EY.
Read the full article at Bizezia News here.