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The Guidelines objective is to develop an effective, consistent and proportionate supervisory approach towards a regular dialogue between supervisors and auditors.
Therefore, the draft Guidelines present relevant principles such as the nature of the information to be exchanged, the form, frequency and timing as well as the representatives involved in such dialogues between supervisors and auditors.
European Insurance and Occupational Pensions Authority (EIOPA), in close cooperation with the European Banking Authority (EBA), assessed the current supervisory practices linked with the interaction with statutory auditors.
It noted that insurance supervisors have regular and ad hoc interactions with statutory auditors, which are currently often not based on clear rules.
The consultation will end on 28 April 2016.