L'audit conjoint doit-il être imposé dans les entités d'intérêt public en Belgique?

Abstract

Following the 2008 economic crisis and financial scandals, the role of auditing has been questioned. In 2010, Michel Barnier initiated a Green Paper called "Audit Policy: Lessons from the Crisis" to address this issue. The European Commission proposed various measures to regain investors' trust and improve audit quality, including the concept of joint audit. In 2014, the European audit reform introduced two legislative texts that imposed formal requirements for the audit of public-interest entities' annual accounts. This dissertation focuses on the potential introduction of joint audit in Belgium for public-interest entities, driven by its mandatory adoption in France. The study examines the impact of joint audit on audit quality, market concentration, audit fees. The empirical section relies on interviews with auditing professionals, executives of public interest entities, and competent organizations from Belgium, France, and Luxembourg. The findings show diverse perspectives, with the majority agreeing that joint audit does not enhance audit quality. Views differ on market concentration, with some suggesting potential benefits for smaller audit firms, while others argue that the market is already concentrated. All participants acknowledge the higher cost associated with joint audit due to coordination expenses. Based on the study's outcomes, the imposition of joint audit for public-interest entities in Belgium is not recommended, as there is a perceived lack of added value, despite recognizing certain advantages like knowledge sharing and collaboration.