The Audit Firms Supervision Act
Here you find the full translations of the applicable legislation and a short summary of its contents. The Audit Firms Supervision Act contains the general rules. More detailed rules are included in the Decree on the supervision of audit firms, mainly derived from the requirements included in the International Standard of Quality Control 1 (ISQC1).
Both the Act and the Decree are based on the European Statutory Audit Directive (2006/43/EC). The Commission Decision (EC) No [..] contains the provisions for a transitional period for certain third-country audit entities and auditors.
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