Audit regulators in Australia and in Luxembourg enter into Cooperative Agreement

The Australian Securities and Investments Commission and the Commission de Surveillance du Secteur Financier (“CSSF”) in Luxembourg, have signed a Memorandum of Understanding that sets the stage for cooperation with regard to the oversight of statutory auditors.

For the CSSF, this is the fifth cooperative agreement with an audit regulator outside of the European Union.

Similar arrangements with other jurisdictions are under negotiation.