Easier Auditing: Broader Services for Firms and Public Interest Entities
This law simplifies the rules for audit firms providing services to large companies (Public Interest Entities). Instead of a rigid list of permitted services, there will now be a list of prohibited services, increasing flexibility and potentially reducing costs for these businesses. These changes will not directly affect the daily lives of citizens, their personal finances, or rights.
Key points
Audit firms will be able to provide a wider range of services to the large companies they audit, with the exception of those explicitly prohibited by EU regulations.
Services that remain prohibited include tax advisory, bookkeeping, or participation in the management of the audited company.
The change aims to reduce administrative burdens and increase operational flexibility for audit firms and large companies, potentially leading to lower costs for them.
Oversight of audit firm independence will be maintained, and audit committees in companies will remain responsible for assessing the impact of additional services on independence.
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