ecoDa heard at the EC Workshop on Audit Reform on March 4, 2016

07.03.2016

Although there is little academic research available on the functioning of audit committees in the different member states, Béatrice Richez-Baum presented some data from a research from “Ethics& Boards”. Regarding Article 27 of the regulation which requests a performance monitoring of the Audit Committees, she made it clear that that audit committee is usually a subcommittee of the board. The board should remain the ultimate responsible body. She said that “Even Sarbanes-Oxley does not go so far, the EU is practicing gold-plating here.

The programme of the EC workshop on 4 March 2016: here