An audit firm shall be licensed as an audit expert or auditor if:
the majority of the members of its highest supervisory or governing body and of its executive body hold the relevant licence;
at least one fifth of the persons involved in providing audit services hold the relevant licence;
it is ensured that all lead auditors hold the relevant licence;
the management structure guarantees that individual engagements will be supervised sufficiently.
Public-sector audit offices shall be licensed as audit firms if they satisfy the requirements in accordance with paragraph 1. It shall not be possible for them to be licensed as audit firms under state oversight.
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