Publication:
Public oversight systems for statutory auditors in the European Union

dc.affiliation.dptoUC3M. Departamento de Economía de la Empresaes
dc.contributor.authorGarcía Osma, Beatriz
dc.contributor.authorHeras Cristobal, Elena de las
dc.contributor.authorGisbert Clemente, Ana
dc.contributor.funderMinisterio de Economía y Competitividad (España)es
dc.contributor.funderMinisterio de Ciencia e Innovación (España)es
dc.date.accessioned2022-06-30T15:39:50Z
dc.date.available2022-06-30T15:39:50Z
dc.date.issued2017-12-01
dc.description.abstractWe provide a comparative overview of the process of implementation, harmonization and stabilization of public oversight systems for statutory auditors across the European Union (EU) after Directive 2006/43/EC. We build on institutional change theory to identify potential determinants as to why some countries still lag in this harmonization process. Oversight systems are a key institutional factor to guarantee the quality of financial information, essential to maintain investors’ confidence and deep and stable capital markets. Thus, the harmonization of these systems has long been an objective of the EU. Our analyses serve to identify, analyse and compare how EU countries have incorporated European-wide requirements into their national legal systems. Particularly, we study: (1) basic characteristics of the system and bodies for public oversight, (2) organizational structure, (3) financing (4) transparency, (5) supervisory, and (6) disciplinary mechanisms. We show that significant diversity still exists across systems and that both the incentives for institutional change and the distance between pre-existing systems and the Directive are important explanatory factors of the achieved level of harmonization.es
dc.description.sponsorshipWe acknowledge financial contribution from the Spanish Ministry of Science and Innovation (ECO2010-19314 and ECO2013-48328), the ICAC (Instituto de Contabilidad y Auditoría de Cuentas) and ASEPUC, through the XVIII Fernandez Pirla Research Funding.es
dc.identifier.bibliographicCitationGarcía Osma, B., Gisbert, A., & de las Heras Cristóbal, E. (2014). Public oversight systems for statutory auditors in the European Union. European Journal of Law and Economics, 44 (3), pp. 517-552.es
dc.identifier.doihttps://doi.org/10.1007/s10657-014-9460-1
dc.identifier.issn0929-1261
dc.identifier.publicationfirstpage517es
dc.identifier.publicationissue3es
dc.identifier.publicationlastpage552es
dc.identifier.publicationtitleEuropean Journal of Law and Economicsen
dc.identifier.publicationvolume44es
dc.identifier.urihttps://hdl.handle.net/10016/35364
dc.identifier.uxxiAR/0000021752
dc.language.isoenges
dc.publisherSpringeres
dc.relation.projectIDGobierno de España. ECO2010-19314es
dc.relation.projectIDGobierno de España. ECO2013-48328-C3-2-Pes
dc.rights© Springeres
dc.rights.accessRightsopen accesses
dc.subject.ecienciaEconomíaes
dc.subject.ecienciaEmpresaes
dc.subject.jelG30
dc.subject.jelG38
dc.subject.jelK22
dc.subject.jelM40
dc.subject.jelM48
dc.subject.otherAuditingen
dc.subject.otherDirective 2006/43/EUen
dc.subject.otherInstitutional differencesen
dc.subject.otherOversight systemsen
dc.subject.otherDisciplinary systemsen
dc.subject.otherHarmonizationen
dc.subject.otherAccountingen
dc.titlePublic oversight systems for statutory auditors in the European Unionen
dc.typeresearch article*
dc.type.hasVersionAM*
dspace.entity.typePublication
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