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The EU’s new regulatory framework: The auditor’s perspective
Journal of Securities Operations & Custody,
9
(3),
259-268
(2017)
Abstract
The landscape of the European Union’s (EU) financial management has changed dramatically since the start of the financial crisis. Therefore, the European Court of Auditors (ECA) has had to adapt its approach and strategy to ensure that it could fully address the new European finance architecture in line with its mandate. This paper examines some of the most important changes implemented by the EU through the lens of the ECA’s special reports and finds that overall the European Commission has acted quickly in difficult circumstances, but the scale of the task means there is still much work to be done before this challenging episode can be consigned to history.
Keywords: audit, financial crisis, EU, banking supervision, credit rating agencies, regulation
The full article is available to subscribers to the journal.
Author's Biography
Simon Dennett has been an analyst at the European Court of Auditors since 2015, initially with the UK Cabinet, and now the Spanish Cabinet of Baudilio Tomé Muguruza. He is responsible for the ECA’s current project on the public procurement of the European Stability Mechanism, and works with the cabinet team on various other short- and long-term issues, ranging from brief and speech writing for Mr Tomé to assistance with the Court’s reports on the EU’s financial assistance to Greece and Venture Capital. Simon holds a master’s degree in European politics from St Antony’s College, Oxford, and a degree in politics from Royal Holloway, University of London.
