Accountancy Europe responded to EC’s questionnaire on fitness check on supervisory reporting aiming to gather evidence on the cost of compliance with existing EU-level supervisory reporting requirements.
Accountancy Europe has submitted a comment letter with its views on the divergence in practice in the auditor’s involvement in regulatory reporting and public disclosure for banks and insurance undertakings. This divergence may create doubts about the reliability and quality of data.
Accountancy Europe provided more information to support its views from two survey results on audit of Solvency II reporting by insurance undertakings and on audit of banks across Europe.
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