EU Plans Bill To Rein In Auditors

Law360, New York (February 10, 2011, 3:03 PM EST) -- European Union officials plan to propose a law to regulate the auditing industry in November in order to make auditors more independent and encourage competition in the highly concentrated sector, the European Commission's financial services chief said Thursday.

In a speech at a banking conference, EU Internal Market Commissioner Michel Barnier said he was working with two key members of the European Parliament, Kay Swinburne and Antonio Masip Hidalgo, to come up with a draft law to present to the other commissioners for approval in November....
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