Doralt, Walter
[Author]
;
Fleckner, Andreas Martin
[Other];
Hopt, Klaus J.
[Other];
Kumpan, Christoph
[Other];
Steffek, Felix
[Other];
Zimmermann, Reinhard
[Other];
Hellgardt, Alexander
[Other];
Augenhofer, Susanne
[Other]
Auditor Independence at the Crossroads – Regulation and Incentives
Footnote:
In: European Business Organization Law Review (EBOR), Vol. 13, No. 1, pp. 89-101, March 2012, DOI: 10.1017/S1566752912000043
Description:
Trust in the independence of auditors is essential for the functioning of markets. If auditors are not independent or not believed to be independent, transaction costs will rise. In November 2011, the European Commission proposed radical reforms for statutory audits in Europe, fueling heated political and academic debates. We welcome the Commission's initiative and present cornerstones of a new regulatory framework. With these and related measures, trust in the independence of auditors will be restored and strengthened