The Commission stresses the need for a differentiated and calibrated approach which is adapted and proportionate to the size and characteristics of both the audited company and its auditor and will seek, in the case of any potential proposal that may emerge as a result of this Green Paper, to modulate any such proposals to take this into account. What may be necessary for large systemic institutions may not be appropriate for other listed companies or for SMEs or SMPs. Any measures which the Commission would propose as a follow-up to the present consultation would be subject to .
