Corporate reporting: Avenues to improve audit quality, supervision and governance

ecoDa / Mazars Webinar

At a time of rising uncertainty, the interplay between board members, the management of companies, auditors and supervisors has never been so critical to corporate reporting quality. High quality corporate reporting builds trust which ensures the effective functioning of financial markets. Recent major corporate failures such as Wirecard and corporate concerns over lack of choice in the PIE audit market have heightened the need for an EU initiative to enhance the corporate reporting framework.

According to the Consultation launched by the Commission last year, 65% of the respondents expressed clear support for such an initiative, with 82% of them considering there was a need for improvement of some or all of the three pillars (corporate governance, staturory audit and supervision of PIE auditors). Only 13% say there is enough choice in finding an auditor at appropriate cost. (For details, please see Consultation outcomes – Summary report)

The panel representing board members, auditors and supervisors will consider the following points and respond to questions raised by the audience:
- For board members, what is the EU key priority to tackle perceived deficiencies in corporate reporting?
- What would help board members to better monitor audit quality and select their auditor(s)?
- What are the options for the EU to create a more diversified and vibrant PIE audit market?