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CEAOB

Committee of European Audit Oversight Bodies (CEAOB)

Cooperation among competent authorities in the EU is realized in the framework of the CEAOB. The Board´s representatives participate regularly not only on the plenary meetings but also in particular working groups. The summary of the CEAOB´s tasks is included in sec. 30/7 of the Regulation.

Organisational Structure of the CEAOB and its Sub-groups

Sub-groups

CEAOB Equivalence and adequacy sub-group: Terms of reference 2019

https://ec.europa.eu/info/files/ceaob-subgroups-2019-equivalence-terms_en

CEAOB International auditing standards sub-group: Work plan 2019

https://ec.europa.eu/info/files/ceaob-subgroups-2019-auditing-work-plan_en

CEAOB Enforcement sub-group: Work plan 2019

https://ec.europa.eu/info/files/ceaob-subgroups-2019-enforcement-work-plan_en

CEAOB Inspections sub-group: Work plan 2019

https://ec.europa.eu/info/files/ceaob-subgroups-2019-inspections-work-plan_en

CEAOB Market monitoring sub-group: Work plan 2019

https://ec.europa.eu/info/files/ceaob-subgroups-2019-monitoring-work-plan_en

Monitoring Market Quality and Competition

Other activities of the Board include, in accordance with Article 27 of the Regulation (monitoring market quality and competition), assessment of the activities of audit committees, preparation of a report on the development on the market of provision of obligatory audit services to public interest entities at least once in three years and present it to the CEAOB (Committee of European Auditing Oversight Bodies), bodies of ESMA (European Securities and Market Authority), EBA (European Banking Authority) and EIOPA (European Insurance and Occupational Pensions Authority) and to the Commission. Pursuant to consultations with the CEAOB and bodies of ESMA, EBA and EIOPA, the Commission will use the reports on development to prepare a joint report in the situation in the European Union. This joint report is presented to the Board, the European Central Bank, European Systemic Risk Board, and possibly to the European Parliament. The first Report on the development on the market of the provision of obligatory audit services to public interest entities was prepared by the Board and presented in mid-June 2016. 

The second report on the development on the market of the provision of obligatory audit services to
public interest entities should be, in accordance with the Regulation, prepared and presented by
mid-June 2019.