The Polish Agency for Audit Oversight (Polish abbrev. “PANA”) is established by virtue of the Act of 11 May 2017 on statutory auditors, audit firms and public oversight, as amended. The PANA is an independent public oversight body and is composed of the President and the Council as decision-making bodies. The PANA performs public oversight of: • Statutory auditors; • Audit firms; • The Polish Chamber of Statutory Auditors (Polish abbrev. “PIBR”). Minor tasks related to the functioning of the public oversight system have been delegated to the professional body, the PIBR. It mainly concerns registration of statutory auditors (while audit firms will be registered by the PANA as of 1 January 2020) and continuous professional education. The ultimate responsibility for the system falls upon the PANA and the main tasks within the oversight system are executed by the PANA (these concern all audit firms: PIE audit firms and non-PIE audit firms): • Registration of audit firms (as mentioned above); • Inspections of audit firms; • Investigations of audit firms. The PANA started operations as of 1 January 2020, replacing the Audit Oversight Commission (Polish abbrev. “KNA”) which ceased to exist on 31 December 2019 and assumed all the rights and obligations of the Commission.