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18 June 2007

FEE: Time to limit auditors' liability

Reacting on the Commission’s summary report to the consultation on reform of auditors' liability, FEE President Jacques Potdevin said: “The status quo is not a policy for today’s changing global capital market and certainly not a way to foster EU integration, competition and competitiveness. FEE is concerned by the long term stability of markets and the ability of the audit profession to continue operating in a sustainable, healthy and competitive way”.

FEE praises the Commission for its balanced and prudent approach towards the issue and for informing the debate by the results of an independent study conducted by the consultant Firm London Economics followed by the public consultation

FEE would like to encourage all relevant stakeholders, and in particular those opposing reform, to carefully review the facts and the findings of the London Economics study.

Press release


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