Transposition of the EU Audit Reform Goes Too Far (in German)

In this position paper Deutsches Aktieninstitut and the Federation of German Industries (BDI) criticize the far-reaching consequences of the German transposition act of the EU audit reform as it partially undermines well-tried corporate governance-mechanisms of the two-tier-system. This applies especially to the newly introduced rules on audit committees of which some threaten to cross the line between the management and the supervisory function.