Home Europe Council of the European Union Council Decision (EU) 2025/642 of 24 March 2025 amending Dec...
Date: 2025-03-28 Category: Not Applicable State: Union Government Country: Europe

Council Decision (EU) 2025/642 of 24 March 2025 amending Decision 98/481/EC approving the external auditors of the European Central Bank

Issued by Council of the European Union · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • Council Decision (EU) 2025/642 amends Decision 98/481/EC regarding the external auditors of the European Central Bank (ECB).
  • The decision approves Forvis Mazars GmbH & Co. KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft as the new external auditor of the ECB, replacing Baker Tilly GmbH & Co. KG Wirtschaftsprüfungsgesellschaft whose mandate ended after the 2024 audit.

Key Changes

  • Forvis Mazars GmbH & Co. KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft is appointed as the external auditor of the ECB for the financial years 2025 to 2029.
  • There is an option to extend the mandate of Forvis Mazars for up to two additional financial years, that is, to 2030 or 2031.
  • Council Decision 98/481/EC is amended to reflect the appointment of Forvis Mazars.

Impact Analysis

European Central Bank (ECB)

  • The ECB's internal processes for financial auditing will need to be updated to reflect the change in external auditor.

Baker Tilly GmbH & Co. KG Wirtschaftsprüfungsgesellschaft

  • Baker Tilly will no longer be involved in the external audit of the ECB unless they are re-appointed in the future.

Forvis Mazars GmbH & Co. KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft

  • Forvis Mazars will need to familiarize itself with the ECB's financial systems and reporting requirements.

European Union Council

  • The Council has amended Decision 98/481/EC to reflect the change in external auditor.

Key Entities Referenced

European Central Bank (ECB): The central bank of the Eurozone, responsible for monetary policy. Council of the European Union: A legislative body of the European Union consisting of government ministers from each member state. Baker Tilly GmbH & Co. KG Wirtschaftsprüfungsgesellschaft: The previous external auditor of the ECB whose mandate ended after the 2024 financial year. Forvis Mazars GmbH & Co. KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft: The newly appointed external auditor of the ECB for the financial years 2025-2029, with a possible extension to 2030 or 2031. Decision 98/481/EC: Council Decision 98/481/EC of 20 July 1998 approving the external auditors of the European Central Bank.
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Official Journal EN of the European Union L series 2025/642 28.3.2025 COUNCIL DECISION (EU) 2025/642 of 24 March 2025 amending Decision 98/481/EC approving the external auditors of the European Central Bank THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Protocol on the Statute of the European System of Central Banks and of the European Central Bank annexed to the Treaty on European Union and to the Treaty on the Functioning of the European Union, and in particular Article 27.1 thereof, Having regard to Recommendation ECB/2025/6 of the European Central Bank of 12 February 2025 to the Council of the European Union on the external auditors of the European Central Bank(1), Whereas: (1) The accounts of the European Central Bank (ECB) and of the national central banks of the Member States whose currency is the euro are to be audited by independent external auditors recommended by the Governing Council of the ECB and approved by the Council of the European Union. (2) The mandate of Baker Tilly GmbH & Co. KG Wirtschaftsprüfungsgesellschaft as the external auditor of the ECB ended following the audit for the financial year 2024. It is therefore necessary to appoint an external auditor from the financial year 2025 onwards. (3) The ECB has selected Forvis Mazars GmbH & Co. KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft as its external auditor for the financial years 2025 to 2029, with an option to extend the mandate for up to two additional financial years, that is to 2030 or to 2031. (4) The Governing Council of the ECB has therefore recommended to the Council that Forvis Mazars GmbH & Co. KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft be appointed as the external auditor of the ECB for the financial years 2025 to 2029, with an option to extend the mandate for up to two additional financial years, that is to 2030 or to 2031. (5) Following the recommendation of the Governing Council of the ECB, Council Decision 98/481/EC(2) should be amended accordingly, HAS ADOPTED THIS DECISION: Article 1 Article 1 of Decision 98/481/EC is replaced by the following: ‘Article 1 Forvis Mazars GmbH & Co. KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft is hereby approved as the external auditor of the ECB for the financial years 2025 to 2029.’. Article 2 This Decision shall take effect on the day of its notification. Article 3 This Decision is addressed to the ECB. Done at Brussels, 24 March 2025. For the Council The President C. SIEKIERSKI (1) OJ C, C/2025/1362, 21.2.2025, ELI: http://data.europa.eu/eli/c/2025/1362/oj. (2) Council Decision 98/481/EC of 20 July 1998 approving the external auditors of the European Central Bank (OJ L 216, 4.8.1998, p. 7, ELI: http://data.europa.eu/eli/dec/1998/481/oj). ELI: http://data.europa.eu/eli/dec/2025/642/oj 1/1

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