The European Audit Inspection Group (‘EAIG’) has submitted a joint comment letter to the International Ethical Standards Board for Accountants (‘IESBA’) regarding the IESBA’s consultation paper on “Responding to Non-Compliance with Laws and Regulations”. The joint comment letter has been signed by twenty EAIG members, including IAASA.
The comment letter can be accessed here.
The primary purpose of the EAIG is to create awareness of significant issues and to promote cooperation and consistency amongst European audit regulators on inspections of audit firms. The group shares inspection practices and findings and facilitates discussions on topics related to audit inspections with third parties, such as the standard setters and the audit profession.