Audit Regulators in the United States and in Luxembourg enter into Cooperative Agreement

The USA’s supervisory authority of audit firms, the Public Company Accounting Board (“PCAOB”) and the Commission de Surveillance du Secteur Financier (“CSSF”) in Luxembourg, have entered into a cooperative agreement with regard to the oversight of audit firms subject to the regulatory jurisdictions of both regulators.

For the CSSF, this is the third cooperative agreement with an audit regulator outside of the European Union.

Similar arrangements with other jurisdictions are under negotiation.