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Recital 8

Recital 8

(8)Notwithstanding the time limitation, the Commission, assisted by the Committee of European Audit Oversight Bodies, will monitor on a regular basis the market developments, evolution of the supervisory and regulatory frameworks and the effectiveness and experience of supervisory cooperation, including the progress towards reaching mutual reliance of each other’s oversight systems. In particular, the Commission may undertake a specific review of this Decision at any time before the end of its period of application where relevant developments make it necessary to re-assess the equivalence granted by this Decision. Such re-assessment may lead to the repeal of this Decision.

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