Polish Audit Sector Sees Improved Relations with Regulator, Outlines Future Goals

The Polish Audit Oversight Agency (PANA) has set a clear path forward with its 2026 action plan, prioritizing the optimization of administrative and disciplinary proceedings and bolstering educational efforts. This proactive approach signals a commitment to enhancing the quality of services provided by audit firms. The agency's role extends to supervising statutory auditors, audit firms, and the professional self-government of auditors, continuing the mission established by the Audit Oversight Commission in 2020.

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In my opinion, relations with PANA have significantly improved since the change in the presidency. This is influenced by several fundamental factors.

Crucially, the auditing sector itself has noted a marked improvement in its relationship with PANA, particularly since the leadership change. Roman Seredyński, a statutory auditor at UHY Poland, attributes this positive shift to several factors: the current president's background as a statutory auditor, fostering a deeper understanding of the field; his active participation in industry dialogues, demonstrating openness; and the maturation of PANA as an institution over its seven years of operation, leading to better mutual understanding of expectations.

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We notice the regulator's growing openness to substantive exchange of experiences and a better understanding of the perspectives of various market participants.

Piotr Chęciek from EY Polska echoes this sentiment, observing the regulator's increased openness to substantive exchanges and a better grasp of diverse market perspectives. Both EY and KPMG emphasize the importance of continued dialogue, participation in regulatory consultations, and the need for proportionality and scalability in supervision. Practical concerns, such as the grading of identified shortcomings and the handling of minor formal violations, remain key discussion points as the industry and regulator collaborate to refine oversight mechanisms and ensure the continued integrity and effectiveness of the auditing profession in Poland.

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We agree with the industry's postulates regarding the application of proportionality and scalability of supervision, including the possibility of assessing and grading deficiencies identified as a result of inspections and the abolition of mandatory initiation of administrative proceedings for minor formal violations.