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Companies Urge EU To Regulate Non-EU Audit Firms

Law360 (July 13, 2007, 12:00 AM EDT) -- A public consultation on the European Commission's policies regarding non-European Union accounting firms has shown that companies strongly feel that the EC should supervise and regulate the auditors.

The responses, made public on Thursday, demonstrate support for an EC initiative to develop and implement a system of public oversight for audit firms while at the same time minimizing the effects such a policy may have on Europe's capital markets.

“The responses we have received will help us to decide how to deal with non-EU audit firms...
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