Informations aux comités d’audit relatives au rapport d’assurance qualité de la CSSF (uniquement en anglais)
As per article 52 (6) d) of the Law of 23 July 2016 concerning the audit profession, one mission of the audit committee is to monitor the statutory audit of the annual and consolidated financial statements, in particular, its performance, taking into account any findings and conclusions by the CSSF pursuant to its inspections.
The CSSF performs, in its duty of public oversight of the audit profession, quality assurance reviews of audit firms auditing public interest entities with a three-year frequency and issues quality assurance reports. For BIG 4, this report is even issued on an annual basis.
The CSSF draws the attention of the audit committees to the fact that they may request, in specific circumstances, part of these reports, upon request to the audit firm and subject to the written approval of the CSSF, according to article 39 (2) d) of the law of 23 July 2016 relating to the audit profession.
Those specific circumstances are limited to audit firms either participating to a tender or auditing the client.