On 13 October 2010, the EU Commission published a Green Paper on the lessons learned from the financial crisis with regard to auditing. The background to the publication of the Green Paper is the fact that, between 2007 and 2009, auditors gave bank financial accounts clean audit opinions despite immense losses. The Green Paper raises issues that are relevant to various areas of auditing: on the one hand the role of the auditor, but also the supervision of audit firms and the market structure for audit services. We are pleased to have the opportunity of taking position on a number of issues of the Green Paper that are of relevance to us.
Lessons from a stable cooperative auditing system
Dr. Eckhard Ott, the parliament magazine, 7 feb 2011, p. 45