Audit regulators in the United States and in Luxembourg extend their cooperative agreement

The USA’s supervisory authority of audit firms, the Public Company Accounting Board (“PCAOB”) and the Commission de Surveillance du Secteur Financier (“CSSF”) in Luxembourg, have extended the statement of protocol, initially concluded on September 17, 2015, with regard to the oversight of audit firms subject to the regulatory jurisdictions of both regulators.

This extension follows the publication of the European Commission’s Implementing Decision regarding the adequacy of the competent authorities of the United States of America (Commission Decision of 14 July 2016 (2016/1156/EU)).