The EU Directive contains requirements governing every statutory audit of a PIE in the EU. Correct as of 17 June 2016
EU Directive requirements updated 17 June 2016
All changes of substance compared to the March 2016 edition have been marked up in the question and also in the contents page with either ‘New’ or ‘Updated’ as relevant.
NOTE - Although the Legislation is final, the language continues to be unclear in many places. Consequently, the opinions expressed in these Frequently Asked Questions (FAQs) may also evolve as Member States consider implementation of the Legislation. This FAQ document has been prepared to assist in the interpretation of the EU audit Legislation but it does not constitute legal advice. Where users are in doubt as to the interpretation of this EU Audit Legislation they are encouraged to seek individual legal advice. Public interest entities will need to consider the expectations of their shareholders and regulators while also complying with the Legislation.