The conference was centred on two main themes: ‘Developing the Role and Value of Audit’ and ‘Building a European Audit Market’. FEE has issued a series of briefing papers to inform the public and foster the debate. It is committed to continue advancing its reflection and contribution resulting from bringing together the existing differing views and by forging consensus on the best possible policy options.

 

FEE president, Philip Johnson, concluded this day of intense and fruitful debate: "Across the whole of Europe the profession has a responsibility to listen to stakeholders’ expectations and to strive to respond in effective and innovative ways. As the free market economy was developing, the profession has been instrumental in protecting and enhancing the public interest. The auditor’s role will change so let us look forward and embrace that change and ensure that proposals made are conducive to audit quality, have been subject to proper and due process and that an appropriate regulatory impact assessment has been undertaken. Considering how the role of audit can be adapted to today’s needs and identifying the right policy options to create a more vibrant audit market is in the long-term collective interest of the entire profession. This long-term collective interest of the entire accountancy profession – from small to large firms and including accountants in business and in the public sector – is FEE’s primary focus”.

Press release