AEB rules in this area aim to strengthen the quality of statutory audit, restoring the confidence of investors in audited financial statements.

AEB rules in this area aim to strengthen the quality of statutory audit, restoring the confidence of investors in audited financial statements. Role of audits and Commission goals A statutory audit is a legally required review of financial records. The role of a statutory audit is to certify the financial statements of companies or public entities. An audit provides stakeholders such as investors and shareholders with an opinion on the accuracy of companies’ accounts. As a result, statutory audits contribute to the orderly functioning of markets by improving the confidence in the integrity of financial statements. In the field of statutory auditing, the Commission's goals are to • improve the independence of statutory audit firms and auditors from the entity being audited • enhance the informational value to investors of audit reporting • help cross-border provision of statutory audit services in the EU • contribute to a more dynamic audit market in the EU • enhance audit supervision • foster convergence and cooperation with non-EU countries