7.

At least the following internal quality control policies and procedures of the statutory auditor or the audit firm shall be reviewed: compliance by the statutory auditor or the audit firm with applicable auditing and quality control standards, and ethical and independence requirements, including those set out in Chapter IV of Directive 2006/43/EC and Articles 4 and 5 of this Regulation, as well as relevant laws, regulations and administrative provisions of the Member State concerned; the quantity and quality of resources used, including compliance with continuing education requirements as set out in Article 13 of Directive 2006/43/EC; compliance with the requirements set out in Article 4 of this Regulation on the audit fees charged. For the purposes of testing compliance, audit files shall be selected on the basis of an analysis of the risk of a failure to carry out a statutory audit adequately. Competent authorities shall also periodically review the methodologies used by statutory auditors and audit firms to carry out statutory audits. In addition to the inspection covered by the first subparagraph, competent authorities shall have the power to perform other inspections.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.