Article 8 of the Aircrew Regulation states:
2. Applicants for Part-FCL licences already holding at least an equivalent licence, rating or certificate issued in accordance with Annex 1 to the Chicago Convention by a third country shall comply with all the requirements of Annex I to this Regulation, except that the requirements of course duration, number of lessons and specific training hours may be reduced.
3. The credit given to the applicant shall be determined by the Member State to which the pilot applies on the basis of a recommendation from an approved training organisation.
This means that the ATO may recommend a reduction in the course duration, number of lessons or training hours but the exams and flight tests are not negotiable
Just beaten to the draw by Rudestuff