Frankfurter Allgemeine Zeitung: Well meant! Well done?
The President of Deutsches Aktieninstitut, Dr Hans-Ulrich Engel, subjects the newly adopted "Finanzmarktintegritätsstärkungsgesetz" to a practical check. He describes the risks of short rotation periods, calls for advisory services not to be unduly restricted and rejects the judicial replacement of the auditor in petty cases. The draft law's additional restrictions on auditing will lead to further concentration in the auditor market, Engel criticises. He concludes that the draft could have the opposite effect in the area of auditing of financial statements to what it aims to achieve.
The guest article by Dr Hans-Ulrich Engel appeared in the Frankfurter Allgemeine Zeitung, page 25.
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