The audit tender process

January 2023

Audit tenders have become more frequent in Europe, in part due to the European Union’s Audit Regulation and Directive (ARD). The process can be complex and time-consuming for audit chairs, who often play a lead role. On 1 December 2022, Tapestry Networks convened members of the European Audit Committee Leadership Network (EACLN) to hear perspectives from audit chairs of large, global companies about how to manage audit tenders, as well as the key criteria that boards use to assess firms. EY leaders Marie-Laure Delarue, global vice chair, assurance, and Julie Linn Teigland, managing partner for Europe, the Middle East, India, and Africa (EMEIA), added insights from an audit firm’s perspective.