The Benefits of Harmonising Education and Training for statutory auditors
The advantages of PAEE as a means of harmonising a high level of education and training of statutory auditors include:
• PAEE provides of a common platform for harmonising education and training that recognises both the areas that are common and the areas that need to be different in national qualifications under application of the principle of subsidiarity, but is not a uniform qualification with uniform educational delivery systems.
• PAEE provides a framework for considering what is national (e.g., law and tax) and provides a firm foundation for the aptitude test and therefore for portability of auditor qualifications within the EU and worldwide.
• The Skills Framework helps ensure that auditors are able to apply their competencies in practice and is important for the adaptability of education and training
• PAEE can serve as a model for the mutual recognition of audit professionals between the European Commission and countries from outside of the EU under comprehensive economic treaty and trade agreements.
PAEE fosters the cross-border exchange of views of those involved in the education and training of auditors in the EU and worldwide including academics, the profession, professional bodies and regulators on such matters as educational programs and courses, examinations and training. Such cross-fertilisation helps improve the quality of education of auditors on an EU-wide and worldwide basis to the benefit of all stakeholders.