Comment on the European Commission's Green Paper "Audit Policy: Lessons from the Crisis"

Publication: Policy Letter No. 16, 2010
Topic Area: Corporate Finance
Authors: Hans-Joachim Böcking,
Marius Gros
Date: Dec 2010
Keywords: audit quality, expectation gap, regulation
Abstract:

The European Commission's Green Paper "Audit Policy: Lessons from the Crisis" raises 38 questions regarding how the audit function could be enhanced in order to contribute to increased financial stability. The authors comment on these 38 questions, arguing that the general level of audit quality can be enhanced by extending the duties of care and by tightening the regulations on liability.

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