BETA

24 Amendments of Peter SIMON related to 2011/0359(COD)

Amendment 200 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 1
A statutory auditor or an audit firm carrying out statutory audit of public- interest entities shall not directly or indirectly provide to the audited entity, to its parent undertaking and to its controlled undertakings prohibited non-audit services.
2012/10/29
Committee: ECON
Amendment 204 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2
Where the statutory auditor belongs to a network, no member of such network shall provide to the audited entity, to its parent undertaking and to its controlled undertakings within the Union any prohibited non- audit services.
2012/10/29
Committee: ECON
Amendment 206 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2 a (new)
(2a) A statutory auditor or an audit firm carrying out statutory audit of public- interest entities may directly or indirectly provide to the audited entity, to its parent undertaking and to its controlled undertakings non-audit services only with the audit committee’s explicit authorisation to do so.
2012/10/29
Committee: ECON
Amendment 207 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2 b (new)
(2b) Where the statutory auditor belongs to a network, a member of such network may provide to the audited entity, to its parent undertaking and to its controlled undertakings within the Union non-audit services only with the audit committee’s explicit authorisation to do so.
2012/10/29
Committee: ECON
Amendment 209 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 3 – introductory part
For the purposes of this Article, prohibited non-audit services shall mean services entailing conflict of interest in all cases:
2012/10/29
Committee: ECON
Amendment 213 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 3 – point a – introductory part
(a) services entailing conflict of interest in all casprohibited non-audit services:
2012/10/29
Committee: ECON
Amendment 252 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 3 – point b
(b) services which may entail conflict of interest: (i) human resources services, including recruiting senior management; (ii) providing comfort letters for investors in the context of the issuance of an undertaking's securities; (iii) designing and implementing financial information technology systems for public-interest entities as referred to in Article 2(13)(a) of Directive 2006/43/EC; (iv) due diligence services to the vendor or the buy side on potential mergers and acquisitions and providing assurance on the audited entity to other parties at a financial or corporate transaction.deleted
2012/10/29
Committee: ECON
Amendment 265 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 4
By derogation from the first and second subparagraphs, the services mentioned in point (b)(iii) and (iv) may be provided by the statutory auditor or the audit firm, subject to prior approval by the competent authority referred to in Article 35(1).deleted
2012/10/29
Committee: ECON
Amendment 269 #
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 5
By derogation from the first and second subparagraphs, the services mentioned in point (b)(i) and (ii) may be provided by the statutory auditor or the audit firm, subject to prior approval by the audit committee as referred to in Article 31 of this Regulation.deleted
2012/10/29
Committee: ECON
Amendment 284 #
Proposal for a regulation
Article 10 – paragraph 5
5. Where an audit firm generates more than one third of its annual audit revenues from large public-interest entities and belongs to a network whose members have combined annual audit revenues which exceed EUR 1 500 million within the European Union, it shall comply with the following conditions: (a) it shall not directly or indirectly provide to any public interest entity non- audit services; (b) it shall not belong to a network which provides non-audit services within the Union; (c) any entity which provides the services listed in paragraph 3 shall not directly or indirectly hold more than 5 % of the capital or of the voting rights in the audit firm; (d) the entities which provide the services listed in paragraph 3shall not directly or indirectly hold together more than 10 % of the capital or of the voting rights in the audit firm; (e) such audit firm shall not directly or indirectly hold more than 5 % of the capital or of the voting rights in any entity which provides the services listed in paragraph 3.deleted
2012/10/29
Committee: ECON
Amendment 300 #
Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 1 – point c
(c) request permission from the audit committee to provide theany non-audit services referred to in Article 10(3)(b)(i) and (ii) to the audited entity;
2012/10/29
Committee: ECON
Amendment 302 #
Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 1 – point d
(d) request permission from the competent authority referred to in Article 35(1) to provide the non-audit services referred to in Article 10(3)(b)(iii) and (iv) to the audited entity;deleted
2012/10/29
Committee: ECON
Amendment 371 #
Proposal for a regulation
Article 31 – paragraph 5 – point d a (new)
(da) monitor the quality of the statutory auditors or audit firms, taking into account any findings and conclusions by the competent authority pursuant to Article 40(6);
2012/10/29
Committee: ECON
Amendment 377 #
Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 2
UnlessWhen it concerns the renewal ofa tendering procedure for an audit engagement in accordance with the second subparagraph of Article 33(1), the recommendation shall, in so far as possible, contain at least two choices for the audit engagement and the audit committee shall express a duly justified preference for one of them.
2012/10/29
Committee: ECON
Amendment 381 #
Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 3
When it concerns the renewal of an audit engagement in accordance with the second subparagraph of Article 33(1), the audit committee shall, for the preparation and justification of its recommendation, take into consideration any findings and conclusions on the recommended statutory auditor or audit firm referred to in Article 40(6) and published by the competent authority pursuant to Article 44(d) as well as any findings from the monitoring procedure provided for in Article 31(5) points (d) and (da) (new).
2012/10/29
Committee: ECON
Amendment 386 #
Proposal for a regulation
Article 32 – paragraph 3 – subparagraph 1 – introductory part
UnlessWhen it concerns the renewal ofa tendering procedure for an audit engagement in accordance with the second subparagraph of Article 33(1), the recommendation of the audit committee referred to in paragraph 2 of this Article, shall be prepared following athe selection procedure organizsed by the audited entity respecting the following criteria:
2012/10/29
Committee: ECON
Amendment 409 #
Proposal for a regulation
Article 33 – title
Duration of the audit engagementTendering procedure for the audit engagement and change of statutory auditor or audit firm
2012/10/29
Committee: ECON
Amendment 412 #
Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 1
The public-interest entity shall appoint a statutory auditor or audit firm for an initial engagement that shall not be shorter than two years.deleted
2012/10/29
Committee: ECON
Amendment 418 #
Proposal for a regulation
Article 33 – paragraph 1 a (new)
(1a) Public-interest entities shall conduct a public tendering process for the statutory audit every 15 years following the conditions set out in Article 32.
2012/10/29
Committee: ECON
Amendment 420 #
Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 2
The public-interest entity may renew this engagement only once.deleted
2012/10/29
Committee: ECON
Amendment 430 #
Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 3
The maximum duration of the combined two engagements shall not exceed 6 years.deleted
2012/10/29
Committee: ECON
Amendment 439 #
Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 4
Where throughout a continuous engagement of 6 years two statutory auditors or audit firms have been appointed, the maximum duration of the engagement of each statutory auditor or audit firm shall not exceed 9 years.deleted
2012/10/29
Committee: ECON
Amendment 447 #
Proposal for a regulation
Article 33 – paragraph 2
2. After the expiry of the maximum duration of the engagement referred to in paragraph 1, the statutory auditor or audit firm or any members of its network within the Union, where applicable, shall not undertake the statutory audit of the public-interest entity concerned until a period of at least four years has elapsed.deleted
2012/10/29
Committee: ECON
Amendment 451 #
Proposal for a regulation
Article 33 – paragraph 3
3. By way of derogation from paragraphs 1 and 2, on an exceptional basis the public-interest entity may request the competent authority referred to in Article 35(1) to grant an extension to re-appoint the statutory auditor or audit firm for an additional engagement. In case of appointment of two statutory auditors or audit firms, this third engagement shall not exceed three years. In case of appointment of one statutory auditor or audit firm, this third engagement shall not exceed two years.deleted
2012/10/29
Committee: ECON