Comparative Analysis Of Oversight Information Of Public Oversight Bodies For Statutory Auditors Published In Member States (EU)

This work focuses on analysing compliance with information transparency requirements of Public Oversight Bodies for Statutory Auditors (POBSA), set out in Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006, on the statutory audit of annual and consolidated accounts, Directive 2014/56/EU of the European Parliament and of the Council of 16 April 2014, amending the previous Directive 2006/43/EC and the Regulation (EU) No. 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements for the statutory audit of public-interest entities.Information transparency is an important disciplinary and monitoring mechanism not only for POBSAs, but also for auditors themselves. This study focuses on the POBSAs of the 27 countries that currently make up the European Union. Although most bodies publish required information in European regulations, the truth is that the data is not comparable between countries. The document structure, the form of presentation of information or content, differ significantly, making the process of comparative analysis of the three main functions of these bodies difficult: (1) regulation; (2) supervision and (3) discipline. A series of recommendations have been included in the document that can be summarised in three essential lines of action: (1) improving public information channels and access to public registers; (2) drafting public information on inspection procedures and disciplinary mechanisms and (3) drafting comparable periodic public Information prepared in accordance with common measurement and presentation standards across all bodies. In addition, the Committee of European Auditing Oversight Bodies (CEAOB) must be the public agency on which the entire information and coordination system of the POBSAs within the European Union is structured, with a view to being able to reliably measure the effectiveness of the oversight system