Contents
- 1. External reviewers shall keep audited accounts which clear…
- 2. The applicable turnover of an external reviewer for a give…
- 3. To calculate the turnover co-efficient of each external re…
- 4. Where the external reviewer did not operate during the ful…
- 5. External reviewers shall provide ESMA with the audited acc…
- 6. ESMA shall convert revenues generated from external review…
3.To calculate the turnover co-efficient of each external reviewer, ESMA shall divide the applicable turnover of that external reviewer in year (n-2) by the applicable turnover of all external reviewers in year (n-2) reduced by the turnovers of external reviewers that are exempted from paying an annual supervisory fee pursuant to Article 2(1). Where no audited accounts for year (n–2) are available for a given external reviewer, ESMA shall use the audited accounts of that external reviewer of year (n–1).
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