European Commission's Green Paper on Audit Policy - Mazars - Singapore

9th February 2011

After the public release on February 1st of its contribution to the European Commission’s Green Paper "Audit policy: Lessons from the Crisis" published last autumn, Mazars has allied with BDO International, Grand Thornton International and RSM International to issue a common statement.

You are invited to read the common statement signed jointly by Mazars and these three other international audit and advisory players.

The statement is built around three key ideas:

• To create a truly integrated Single Market for audit
• To enhance competition and choice to avoid the inefficienceis of concentration
• To enhance the relevance of auditing

This initiative has been at the centre of several articles of the European international press, from Les Echos (France), the Financial Times (United Kingdom), and Expansion (Spain). The reports are concentrating on the importance of the first time occasion that the 4 mid tier firms who are also the main international challengers to the Big 4 have teamed up to issue this joint paper.

Patrick de Cambourg, President and CEO of the Mazars Group, commented that Mazars warmly welcomed the publication of the Green Paper on the future of the audit market in the European Union. In a statement regarding the paper, he said "We have the firm belief that the European Union has a role to play in fostering the development and efficiency of a well balanced global audit market. We see a multi-polar world emerging and feel that it is desirable that the Single Market forms a robust and competitive part of this new global framework of the audit market.

You can read the fulll document: "Audit Policy: Lessons from the Crisis" by downloading it.

Green Paper on Audit Policy (.pdf - 1.07 MB)