Skip to main content
Version status: In force | Document consolidation status: Assimilated law updated to reflect all known changes
Version date: 8 March 2021 - onwards
Version 3 of 3

Article 16 Appointment of statutory auditors or audit firms

1. For the purposes of the application of the provisions, for the appointment of statutory auditors by public-interest entities, the conditions set out in paragraph 3 of this Article shall apply.

Where the provisions for the appointment of statutory auditors by public interest entities do not apply, the public-interest entity shall inform the competent authority of the use of applicable alternative systems or modalities. In that event, paragraph 3 of this Article shall not apply.

2. The audit committee shall submit a recommendation to the administrative or supervisory body of the audited entity for the appointment of statutory auditors or audit firms.

Unless it concerns the renewal of an audit engagement in accordance with Article 17(1) and 17(2), the recommendation shall be justified and contain at least two choices for the audit engagement and the audit committee shall express a duly justified preference for one of them.

In its recommendation, the audit committee shall state that its recommendation is free from influence by a third party and that no clause of the kind referred to in paragraph 6 has been imposed upon it.