The Federation of European Accountants
(Fédération des Experts Comptables Européens – FEE) has issued a
discussion paper on examining the role of audit committees
throughout the European Union.

The paper, Functioning of Audit
, contains measures that aim to enhance the role of
the audit committee’s in accordance to the European Commission’s
guidance on corporate governance.

The FEE said that audit committees are a
relatively new thing in some EU countries and therefore the
functioning of audit committees in general can be improved.

“Improvements relate in particular to
clarification of the competences and the responsibilities of the
audit committee and to the reporting to and from the audit
committee,” the FEE said.

“These improvements would be beneficial to
companies, having in mind that the main purpose of audit committees
is to ensure the quality of financial reporting, overall internal
control and risk management.”

Deadline for comment on the discussion paper
is 28 September.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.