Commission suspends work on inspection co-operation plans over concerns that the US lacks commitment to the process
A row between Europe and the US over audit inspections looms after the EC suspended its work on co-operation with non-EU audit oversight bodies over fears that the US is not ready to make the same leap.
Internal market commissioner Charlie McCreevy said last week that discussions with the EU’s 27 member states had been halted as more time was needed to ensure that the US was ready to rely on the work of oversight bodies in other countries, according to the Financial Times.
‘While some of our trading partners, notably Canada and Japan seem to be open towards such an agenda, the same is not true for the US,’ said McCreevy.
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