The guidelines on facilitating an effective dialogue between insurance supervisors and statutory auditors

Page ContentEIOPA published today the translations of the Guidelines on Facilitating an Effective Dialogue between Insurance Supervisors and Statutory Auditors into all official languages of the European Union indicating the start of a “comply or explain” reporting process. During a 2-month period each competent authority needs to confirm whether they comply or intend to comply with the Guidelines.The objective of the Guidelines is to facilitate and maintain an effective dialogue between the NCAs and the statutory auditors or audit firms by defining a general framework for effective and constructive communication. The Guidelines specify the main characteristics of an effective dialogue such as the scope of information to be shared, the form of communication, the participants in the exchange of information, frequency and timing, and the communication between the authorities and auditors collectively.