Guidance for Member States on audit of accounts

The purpose of this note is to give practical guidance to the Member States, in particular the AAs, on their responsibilities with regard to the audit of accounts in compliance with Article 137 (1) CPR and Article 29 CDR. This guidance note explains how the audit authorities can use existing audit work to reduce at the minimum possible their additional effort in relation to the audit of accounts.

The guidance describes the audit work to be carried out by the AAs to support their audit opinion on the completeness, accuracy and veracity of the accounts.

For simplification, hereafter the word "Appendix" refers always to the Appendices in the model accounts of Annex VII CIR.