Brussels, 23/09/2011 (Agence Europe) - EU Internal Market Commissioner Michel Barnier will shortly be unveiling an ambitious draft regulation that could initiate a sea-change in auditing in Europe by 2015. According to a draft document seen by this newsletter, he is considering introducing mandatory joint audits for large companies quoted on the stock exchange. Rotation of auditing firms will also be compulsory after a nine-year period.
The main aim of the new legislation is to introduce...