Audit Committees of Public Interest Entities in Europe

25 Pages Posted: 3 Dec 2014

See all articles by Christoph Van der Elst

Christoph Van der Elst

Tilburg Law School; Ghent University - Department of Business Law; European Corporate Governance Institute (ECGI)

Date Written: December 2, 2014

Abstract

In 2014 the European Union reformed the regulatory framework of statutory audits in Directive 2014/56/EC and Regulation (EU) Nr. 537/2014. Part of the new legislation addresses the composition and responsibilities of the audit committee of public-interest entities. This contribution studies the innovations for audit committees. It is shown that many new requirements are very detailed and will force audit committees to develop new procedures. We fear that some of these new requirements are too prescriptive and will not necessarily reach the goal of better audits.

Keywords: audit committee, corporate governance, monitoring, auditor, independence

JEL Classification: K20, M42, M48, G38

Suggested Citation

Van der Elst, Christoph, Audit Committees of Public Interest Entities in Europe (December 2, 2014). European Corporate Governance Institute (ECGI) - Law Working Paper No. 276/2014, Available at SSRN: https://ssrn.com/abstract=2533341 or http://dx.doi.org/10.2139/ssrn.2533341

Christoph Van der Elst (Contact Author)

Tilburg Law School ( email )

Tilburg, 5000 LE
Netherlands

Ghent University - Department of Business Law ( email )

Universiteitstraat 4
Gent, B-9000
Belgium

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
322
Abstract Views
1,401
rank
120,802
PlumX Metrics