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What is a network (question 3 on Form B(IE), and update form B-U(IE))?

A network is defined in Article 2(7) of the EU audit Directive (Directive 2006/43/EU as amended) as the larger structure:


  • Which is aimed at cooperation and to which a statutory auditor or an audit firm belongs, and


  • Which is clearly aimed at profit or cost sharing or shares common ownership, control or management, common quality control policies and procedures, a common business strategy, the use of a common brand name or a significant part of professional resources.