The EU and the US have hammered out a deal to address rules for auditing on both sides of the Atlantic.
The agreement will require auditors to register in both the US and the EU to work on publicly held companies in the US and EU, with one EU official calling their efforts to compromise as “working in parallel,” Eupolitix.com reported.
“It’s a done deal,” says William McDonough, chairman of the US Public Company Accounting Oversight Board (PCAOB) after meeting with EU’s internal market commissioner Frits Bolkestein.
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