Statistik › Börsennotierungen, IPOs und Kapitalmaßnahmen › Rotation unmeasured
Europe's mandatory auditor rotation deadlines passed in 2020 and 2023 and nobody published how many companies actually changed firm
| Rule | Zahl | Article |
|---|---|---|
| Maximum engagement period | 10 Jahre | Art 17(1) |
| Extension with a public tender | to 20 years | Art 17(4)(a) |
| Extension with a joint audit | to 24 years | Art 17(4)(b) |
| Cooling off period for the firm | 4 years | Art 17(3) |
| Exceptional extension by the competent authority | up to 2 further years | Art 17(6) |
| Key audit partner rotation | ceases after 7 years | Art 17(7) |
| Partner cooling off | 3 Jahre | Art 17(7) |
| Transitional deadline for tenures of 20 years or more | 17 June 2020 | Art 41(1) |
| Transitional deadline for tenures of 11 to under 20 years | 17 June 2023 | Art 41(2) |
| Regulation applies from | 17 June 2016 | Art 44(2) |
Regulation (EU) No 537/2014. Rotation was the central intervention of the 2014 reform: an auditor of a public interest entity may serve ten years, extendable to twenty with a tender or twenty four with a joint audit, and must then be replaced for four years.
The Commission's own report on the audit market mentions neither deadline and gives only a 19 per cent figure for audit committees appointing a new auditor. Where a national register of exceptional extensions exists, all twenty incumbents are large firms.
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