Recital 38

This Directive does not change the account reporting obligations of payment institutions or their obligation to carry out audits on their annual and consolidated accounts. Payment institutions are required to draw up their annual and consolidated accounts in accordance with Council Directive 86/635/EEC and Directive 2013/34/EU of the European Parliament and of the Council. The annual accounts and consolidated accounts are to be audited, unless the payment institution is exempted from that obligation under those Directives.