4 Amendments of Saïd EL KHADRAOUI related to 2010/2037(INI)
Amendment 27 #
Draft opinion
Paragraph 1
Paragraph 1
1. Calls for the provision of increased opportunities for smaller firms by preventing internal audit services being carried out by the sameTakes the view that there should be a ban on services other than auditing being provided to the audited company, as the external audit; notes that areas of audit services which are deemed to incur a conflict of interis would pose a risk to the auditor’s independence; takes the view, furthermore, that under no circumstancest should be carried out by different companies, inclinternal and external auditing evaluations of complex structured productsservices be provided simultaneously;
Amendment 37 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Takes the view that statutory auditing has a social function and is in the public interest, as it is a fundamental component of the social, economic and political model and is a key tool for companies to access financing and for corporate governance;
Amendment 41 #
Draft opinion
Paragraph 2
Paragraph 2
2. Believes companies should conduct a compulsory open tendering process for statutory appointments of external auditors every eight years, on a renewable basis; notes that for SIFIs this should be reduced to every four yearsthat, in order to guarantee the independence of audits, auditing contracts should run for no longer than eight years; takes the view that an initial contract should be concluded for four years, renewable only once for a further period of four years, followed by a period of at least four years – eight years for public interest entities – during which the audit firm concerned cannot audit the same company again; considers that there would be a need, at the end of the initial four-year period, for a new team to be appointed from within the audit firm;
Amendment 64 #
Draft opinion
Paragraph 3
Paragraph 3
3. Calls for enhanced, two-way communication between auditors and financial supervisors of SIFIs, especially in relation to specific areas of concern, including the interaction between different financial productsTakes the view that national and European auditors should be subject to an obligation to alert supervisors or the relevant authorities when they spot problems that might jeopardise the future of the entity being audited;