270. Deputy Dara Calleary asked the Minister for Jobs, Enterprise and Innovation if his attention has been drawn to the fact that the recent decision of the US House of Representatives overwhelmingly to support a Bill (details supplied) that specifically prohibits the US Public Company Accounting Oversight Board from introducing the types of measures that will be imposed in the EU by the Commission proposals for a regulation on specific requirements regarding statutory audit of public interest entities; if he is further aware that the Canadian Public Accountability Board and CPA Canada issued a report in May last which included a finding that the mandatory rotation of audit firms or mandatory retendering of the audit would not contribute to the enhancement of audit quality and that the UK Competition Commission in a report issued in July last also opposed the concept of mandatory audit firm rotation; if he will indicate the basis on which he and his Department have taken a line that contradicts so many international authorities in this area; and if he will make a statement on the matter. [6689/14]

Summary

270. Deputy Dara Calleary asked the Minister for Jobs, Enterprise and Innovation if his attention has been drawn to the fact that the recent decision of the US House of Representatives overwhelmingly to support a Bill (details supplied) that specifically prohibits the US Public Company Accounting Oversight Board from introducing the types of measures that will be imposed in the EU by the Commission proposals for a regulation on specific requirements regarding statutory audit of public interest entities; if he is further aware that the Canadian Public Accountability Board and CPA Canada issued a report in May last which included a finding that the mandatory rotation of audit firms or mandatory retendering of the audit would not contribute to the enhancement of audit quality and that the UK Competition Commission in a report issued in July last also opposed the concept of mandatory audit firm rotation; if he will indicate the basis on which he and his Department have taken a line that contradicts so many international authorities in this area; and if he will make a statement on the matter. [6689/14]

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• EU Regulations

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