Legal provisions of COM(2006)903 - Amendment of Directive 2006/43/EC on statutory audit of annual accounts and consolidated accounts, as regards the implementing powers conferred on the Commission

Please note

This page contains a limited version of this dossier in the EU Monitor.

dossier COM(2006)903 - Amendment of Directive 2006/43/EC on statutory audit of annual accounts and consolidated accounts, as regards the ...
document COM(2006)903 EN
date March 11, 2008

Contents

Article 1 - Amendments

Directive 2006/43/EC is hereby amended as follows:

1.Article 8(3) shall be amended as follows:

(a)the words ‘, in accordance with the procedure referred to in Article 48(2),’ shall be deleted;

(b)the following sentence shall be added:

‘Those measures, designed to amend non-essential elements of this Directive, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

2.Article 21(2) shall be amended as follows:

(a)the words ‘, in accordance with the procedure referred to in Article 48(2),’ shall be deleted;

(b)the following sentence shall be added:

‘Those measures, designed to amend non-essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

3.Article 22(4) shall be amended as follows:

(a)the words ‘, in accordance with the procedure referred to in Article 48(2),’ shall be deleted;

(b)the following subparagraph shall be added:

‘The measures referred to in the first subparagraph, designed to amend non essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

4.Article 26 shall be amended as follows:

(a)in paragraph 1 the words ‘in accordance with the procedure referred to in Article 48(2)’ shall be replaced by the words ‘in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a)’;

(b)paragraph 2 shall be amended as follows:

(i)the words ‘, in accordance with the procedure referred to in Article 48(2),’ shall be deleted;

(ii)the following subparagraph shall be added:

‘The measures referred to in the first subparagraph, designed to amend non essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

5.Article 28(2) shall be amended as follows:

(a)the words ‘, in accordance with the procedure referred to in Article 48(2) of this Directive,’ shall be deleted;

(b)the following sentence shall be added:

‘Those measures, designed to amend non-essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

6.Article 29(2) shall be amended as follows:

(a)the words ‘, in accordance with the procedure referred to in Article 48(2),’ shall be deleted;

(b)the following sentence shall be added:

‘Those measures, designed to amend non-essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

7.Article 36(7) shall be amended as follows:

(a)the words ‘In accordance with the procedure referred to in Article 48(2)’ shall be deleted;

(b)the following sentence shall be added:

‘Those measures, designed to amend non-essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

8.Article 45(6) shall be replaced by the following:

‘6.   In order to ensure uniform application of paragraph 5(d), the equivalence referred to therein shall be assessed by the Commission in cooperation with Member States and shall be decided upon by the Commission in accordance with the regulatory procedure referred to in Article 48(2). Member States may assess the equivalence referred to in paragraph 5(d) of this Article as long as the Commission has not taken such a decision.

In this context, the Commission may adopt measures aimed at establishing general equivalence criteria in accordance with the requirements laid down in Articles 22, 24, 25 and 26 which are applicable to all third countries and which shall be used by Member States when assessing equivalence at national level. The criteria may not exceed the requirements laid down in Articles 22, 24, 25 and 26. Those measures, designed to amend non-essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

9.Article 46(2) shall be replaced by the following:

‘2.   In order to ensure uniform application of paragraph 1, the equivalence referred to therein shall be assessed by the Commission in cooperation with Member States and shall be decided upon by the Commission in accordance with the regulatory procedure referred to in Article 48(2). Member States may assess the equivalence referred to in paragraph 1 of this Article or rely on the assessments carried out by other Member States as long as the Commission has not taken such a decision. If the Commission decides that the requirement of equivalence referred to in paragraph 1 of this Article is not complied with, it may allow the auditors and audit entities concerned to continue their audit activities in accordance with the requirements of the relevant Member State during an appropriate transitional period.

In this context, the Commission may adopt measures aimed at establishing general equivalence criteria in accordance with the requirements laid down in Articles 29, 30 and 32 which are applicable to all third countries and which shall be used by Member States when assessing equivalence at national level. The criteria may not exceed the requirements laid down in Articles 29, 30 and 32. Those measures, designed to amend non essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

10.Article 47 shall be amended as follows:

(a)paragraph 3 shall be replaced by the following:

‘3.   In order to ensure uniform application of paragraph 1(c), the adequacy referred to therein shall be assessed by the Commission in cooperation with Member States and shall be decided upon by the Commission in accordance with the regulatory procedure referred to in Article 48(2). Member States shall take the measures necessary to comply with the Commission's Decision.

Such assessment of adequacy shall be based on the requirements of Article 36 or essentially equivalent functional results. Any measures taken in this context, designed to amend non essential elements of this Directive by supplementing it and aiming at facilitating cooperation between competent authorities, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’.

(b)paragraph 5 shall be amended as follows:

(i)the words ‘, in accordance with the procedure referred to in Article 48(2),’ shall be deleted;

(ii)the following sentence shall be added:

‘That measure, designed to amend non-essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 48(2a).’;

11.Article 48 shall be amended as follows:

(a)the following paragraph shall be inserted:

‘2a.   Where reference is made to this paragraph, Article 5a(1) to (4) and Article 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof.’;

(b)paragraphs 3 and 4 shall be replaced by the following:

‘3.   By 31 December 2010 and, thereafter, at least every three years, the Commission shall review the provisions concerning its implementing powers and present a report to the European Parliament and to the Council on the functioning of those powers. The report shall examine, in particular, the need for the Commission to propose amendments to this Directive in order to ensure the appropriate scope of the implementing powers conferred on the Commission. The conclusion as to whether or not an amendment is necessary shall be accompanied by a detailed statement of reasons. If necessary, the report shall be accompanied by a legislative proposal to amend the provisions conferring implementing powers on the Commission.’

Article 2 - Entry into force

This Directive shall enter into force on the day following that of its publication in the Official Journal of the European Union.

Article 3 - Addressees

This Directive is addressed to the Member States.