Recital 6

(6)The Committee of European Auditing Oversight Bodies has reassessed, in accordance with Article 30(7), point (c), of Regulation (EU) No 537/2014 of the European Parliament and the Council ⁴ , the public oversight, quality assurance, investigation and penalty systems for auditors and audit entities in the United States, based on the Sarbanes-Oxley Act of 2002, which has not fundamentally changed since the adoption of Implementing Decision (EU) 2016/1155. Taking into account that technical assessment, the systems of the public oversight, quality assurance, investigation and penalties for auditors and audit entities of the Securities and Exchange Commission and the Public Company Accounting Oversight Board continue to meet requirements that are equivalent to those laid down in Articles 29, 30 and 32 of Directive 2006/43/EC.