Press statement - PwC response to "trilogue" agreement on a proposed regulation on the statutory audit of public interest entities in the European Union
"The proposals will also if enacted, increase cost and complexity for business just as the fragile European economy is recovering. It is hard to see how forcing companies to change auditors periodically does anything to improve audit quality and that case is certainly not borne out in those countries which already have such rules."
"We would urge both the European Parliament and the member state governments to look again at this regulation with the aim of making significant changes or face introducing a law that will place European business at serious competitive disadvantage," added Mr Sexton.
Mike DaviesPwC Director Global Communications and PRUnited Kingdommike.email@example.com+44 (0) 20 7804 2378+ 44 (0) 7803 974 136