On 1 and 2 July 2025, the Committee of European Auditing Oversight Bodies (CEAOB) held its 28th plenary meeting in Brussels.
CYPRUS PUBLIC AUDIT OVERSIGHT BOARD(CyPAOB), was represented by the Director General, Mr. Panos Prodromides, Board Member, Mrs. Ioanna Achilleos Zavitsanaki and Audit regulators Kyriaki Andreou and Rafailia Stylianou.
During the meeting, members discussed key developments and shared updates on several important topics, including:
🔹Recent developments at the Public Company Accounting Oversight Board (PCAOB) and their potential implications for EU markets and international cooperation
🔹 A discussion on the way forward for a potential review of the EU statutory audit legal framework
🔹 Adoption of a technical report on the adequacy of China’s audit legal framework for transfer of working papers and inspection/investigation reports
🔹An update from the chair of the International Auditing Standards subgroup on CEAOB’s observership at EFRAG
🔹 Presentations by NCAs on the use of Audit Quality Indicators (AQIs) and cooperation among Nordic audit regulators
🔹 Educational qualifications for statutory auditors
🔹Updates by sub-group chairs on ongoing work included preparation of the 2025 Enforcement Questionnaire, guidelines for limited assurance on sustainability reporting, and progress on the 4th Market Monitoring Report.
🔹 Presentation by representatives of European co-operation for Accreditation (EA) and the European Contact Group (ECG) on topics of mutual interest formed part of CEAOB’s stakeholder outreach activities.