Audit regulations

Annual Report of Activities in 2014

2014 Report ICAC g) Collaboration with XBRL España by appointing a member of the Sub-Directorate to chair the PGC-2007 and PGCPYMES-2007 Taxonomy Subgroup, in addition to attending mee-tings 14 on this topic. h) Collaboration with XBRL España by appointing a member of the Sub-Directorate to chair the Regulations Taxonomy Subgroup to prepare consolidated annual accounts, in addition to attending meetings on this topic. i) Collaboration with the Office of the State’s Inspector General in relation to the response to queries made on the accounting treatment of specific situations. j) Collaboration with the Directorate General of Taxation in relation to the response to que-ries made on the accounting treatment of specific situations. k) Collaboration with the OECD in preparing questionnaires on the regulation and fair com-petition of the various sectors of activity through POLECO, which acted as coordinator. l) Update and subsequent review of the text for dissemination and publication of the Inter-national Financial Reporting Regulations adopted by the European Union. m) Within the sphere of performing and promoting research, study, documentation, disse-mination and publishing activities for the development and perfection of accounting re-gulations. n) Three meetings of the Accounting Advisory Committee were held in 2014 (five meetings in 2013). o) Three meetings of the Accounting Board were held in 2014 (five meetings in 2013). AUDIT REGULATIONS Specific actions performed in 2014 by the Sub-Directorate General for Technical Audit Standards were the following: a) During 2014 work was undertaken relating to the study and preparation process of the or to study and prepare the preliminary draft of the Audit of Accounts Law, to incorpo-rate the Directive into our legal system framework 2014/56/EU of the European Parliament and Council of 16 April 2014 which amended Directive 2006/43/EC of the European Parliament and Council of 17 May 2006 relating to the legal audit of the annual accounts and the consolidated financial statements and to exercise the options envisaged by (EU) Regulation 537/2014, of 16 April of the European Parliament and Council on the specific requirements for the legal audit of entities deemed to be of public interest by which De-cision 2005/909/EC of the Commission is repealed. In this process the comments received from the Audit firms and other interested parties have been studied and taken into ac-count. For this purpose, they have complied with the legally required formalities for them to be forwarded by the Minister of the Economy and Competitiveness to the Council of Ministers for its taking into consideration at their meeting of 26 December 2014, once


Annual Report of Activities in 2014
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