EU Reform of The Audit Market NAPF Position Paper

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EU Reform of The Audit Market NAPF Position Paper

We believe the role of the auditor is of vital importance to investors in making assessments and investment decisions and the present level of audit quality and accompanying reporting could and should be enhanced.

We support measures to strengthen independence and improve competition in the audit market and believe it is vital to strengthen the role of the audit committee and its oversight of the auditor. There is strong support amongst most, but not all, of our membership that audit committees should be required to re-tender audit services at least every 5-7 yrs with rotation after no more than 15 yrs.

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