Audit office says agencies fully met only three of eight recommendations

Iceland’s National Audit Office says only three of eight recommendations it made to the Competition Authority and its ministry have been fully addressed, mbl.is reported, citing a new follow-up report.

Four years after the original 2022 administrative review of merger control, work to revise the authority’s procedures and working rules remains unfinished. The rules have not changed since the review, although draft amendments have been prepared and the authority is following new practices. The audit office strongly urged that the work be completed this year.

The audit office said the authority had improved its assessment of results. However, it noted that the authority’s estimated benefits analysis does not objectively measure the actual results and effects of merger conditions, as previously requested. Specific performance indicators for merger cases and interventions have also not been defined.

Plans are in place to expand the Competition Authority’s powers through amendments to competition law.