5 Amendments of Othmar KARAS related to 2010/2037(INI)
Amendment 18 #
Draft opinion
Recital C a (new)
Recital C a (new)
Ca. warmly welcomes the intention of the Green Paper to increase the quality of auditing reports in order to contribute to the stability of the financial market; favours any measures based on the evidence that costs and burdens to Financial Institutions are outweighed by improving their quality significantly,
Amendment 21 #
Draft opinion
Recital C b (new)
Recital C b (new)
Cb. Highlights the importance of the audit report for shareholders and the public; recognises the principle "an audit is an audit" and warns of the high risk that the application of different standards leads to legal uncertainty; therefore favours the extension of the scope to all financial institutions,
Amendment 43 #
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 yearthat instead of a mandatory tendering process the audit committee should report to the shareholders and the supervisory authority on the criteria for selecting the auditing company on an annual basis;
Amendment 93 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Points out that a high-quality audit system is an integral part of a sound corporate governance framework; asks the Commission to present their proposals simultaneously in order to ensure consistency;
Amendment 99 #
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Recognises that the implementation of joint audit might have positive effects on the diversification of the audit market; Recalls the different market situation across member states and calls on the Commission to assess the impact on the mandatory introduction on both audit companies as well as audited companies;