1ST DRAFT - NON-PAPER –CONSULTATION ON IMPLEMENTATION OF COOPERATION WITH 3RD COUNTRY AUDIT REGULATORS

DIRECTORATE GENERAL FOR INTERNAL MARKET AND SERVICES CONSULTATION ON IMPLEMENTATION OF ARTICLES 45 – 47 OF THE DIRECTIVE ON STATUTORY AUDIT (2006/43/EC) COOPERATION WITH NON-EU JURISDICTIONS ON AUDITOR OVERSIGHT We invite comments by 5 March 2007 at the latest. Earlier responses would be very welcome. Responses should be sent by email to MARKT-F4-3RDCOUNTRIES@ec.europa.eu. Alternatively you should send comments by post to the European Commission, DG Internal Market and Services, Unit F4 - Auditing, SPA 2 (JII), 02/085 , B-1049 Brussels, Belgium. All responses will be acknowledged. We will make comments publicly available on the Commission’s web-site unless respondents specifically request otherwise. If you send an e-mail response, which includes an automatically generated notice stating that the content is to be treated as confidential you should make it clear in the body of your message whether or not you wish your comments to be treated as confidential. January 2007 TABLE OF CONTENTS 1. INTRODUCTION...............................................................................................................................3 2. CONTEXT...........................................................................................................................................3 2.1. ARTICLES 45 AND 46 OF THE DIRECTIVE 2006/43/EC......................................................3 2.2. ARTICLE 47 OF THE DIRECTIVE 2006/43/EC... ...