| Legal Flash | October 2022 | «Bill on the Auditing of Accounts of the Principality of Andorra» |

Last October 25, the Government submitted to the General Council for its processing the Bill on the Auditing of Accounts of the Principality of Andorra. The main objective of the Bill is to develop the legal framework necessary to maintain the activity of auditing accounts. In order to develop this Bill, international standards have been taken into account, as well as the European Auditing Directive 2006/43 and its subsequent amendments regarding the statutory audit of annual accounts and consolidated accounts. Likewise, the main IESBA (The International Ethics Standards Board for Accountants) and the quality standards of the IAASB (International Auditing and Assurance Standards Board) have been considered as references, on which auditors and audit firms must necessarily base themselves in the exercise of their functions in order to issue a technical and responsible opinion have been considered as references.