The European Banking Authority published final Guidelines on communication between national regulators supervising banks and the statutory auditors and audit firms carrying out the statutory audit of banks. The EBA was required to produce the guidelines by the EU Audit Regulation. The guidelines suggest that regulators should request auditors to share information on material issues which are relevant to the supervision of a credit institution. Regulators should also share information with auditors on material issues which regulators would judge as relevant to the statutory audit of a credit institution. The Guidelines aim to facilitate supervision of EU banks and will apply from March 31, 2017.
View the final Guidelines.
