Local perspectives of the effect of the provisions of the revised 8th company law directive regulating the statutory audit

Abstract

In October 2004, the Commission proposed a Modernised 8th Company Law Directive to the European Parliament and Council. This Revised Directive will be introduced into national law by all EU Member States as soon as it is approved by the European Parliament. The objectives of this dissertation are to examine the revisions made to the original 8th Directive, to observe to what extent these new provisions will affect local audit practitioners, and to evaluate the general effects of this Revised Directive on the local audit environment. The research instrument consisted of questionnaires which were sent to 260 local CPAA holders. It resulted that local practitioners are generally in agreement with certain provisions that the Revised Directive will introduce.