Text and updates on Statutory Audit (revised 8th Company Law) Directive

The EU Statutory Audit Directive (revised 8th Company Law) is the most comprehensive single EU legislative initiative to impact on the audit profession. The Directive represents a substantive revision to the previous framework, and introduces key provisions in areas such as auditing standards, public oversight, auditor independence, third country auditors, definition of a network and ownership and control.

This note summarises developments regarding the implementation of the Statutory Audit Directive and refers to the groups/bodies at European Union level which have been established to assist in the implementation of the Directive.

Download the latest update on the EU Statutory Audit Directive (revised 8th Company Law) (PDF 68kb/9 pages)

The ICAEW has made various representations and policy submissions on the Directive, in response to the European Commission’s original proposal and at various points in the adoption process at European Union level, in addition to liaising with UK Government in this regard.

The Institute is currently also liaising with UK Government, the European Commission and other stakeholders on the question of implementation and has responded to all consultations.

Access the ICAEW’s responses to consultations and other policy submissions.