Public Oversight Systems for Statutory Audit in the EU
Public oversight of audits and auditors is a relatively recent development, particularly in light of the length of time that capital markets and the audit profession have operated. This paper reflects on the rationale for public oversight of auditors, summarizes the relevant EU legislation and international benchmarks for public oversight systems, and thereafter compares and contrasts the different approaches taken by EU member states to operate their public oversight systems.
Third Regional Audit Quality Assurance Forum: Improving Audit Quality through Cooperation
The third Forum of Public Oversight Bodies (POB Forum) convened 63 participants from the beneficiary countries on October 22-23, 2024, in Bucharest Romania. The POB Forum is organized jointly under two regional programs of the World Bank Centre for Financial and Sustainability Reporting Reform (CFRR) based in Vienna, Austria: the Road to Europe Program of Accounting Reform and Strengthening Institutions for Small and Medium-sized Enterprises (REPARIS for SMEs) and the Enhancing Accounting, Auditing, and Sustainability Reporting (EAASURE) Program.
Strengthening Public Oversight in Bosnia and Herzegovina
Key stakeholders involved in public oversight from Bosnia and Herzegovina convened in Sarajevo on October 1, 2024, to discuss ways to strengthen audit public oversight at both the country and entity levels to ensure better alignment with the European Union (EU) acquis. The event was attended by 30 participants, including representatives from relevant institutions and professional accounting associations from Republika Srpska, the Federation of Bosnia and Herzegovina, Brčko District, as well as the state-level Ministry of Finance and Treasury.
Improving Audit Quality in Western Balkans Countries Through Continuing Professional Development and Learning
As part of the REPARIS for SMEs regional program for the Western Balkans, experts from the Institute of Chartered Accountants of England and Wales (ICAEW) delivered a series of interactive webinars on the subject of private sector audit and audit inspection.
Launch of a New Regional Program - Enhancing Accounting, Auditing, and Sustainability Reporting (EAASURE)
A new regional program Enhancing Accounting, Auditing, and Sustainability Reporting (EAASURE) was launched in Vienna, Austria on May 28-29, 2024 as part of a two-day Knowledge Sharing Event “Responding to New Requirements and Challenges in Corporate Financial and Sustainability Reporting” attended by about 80 participants from the 11 beneficiary countries.
Responding to New Requirements and Challenges in Corporate Financial and Sustainability Reporting
A two-day Knowledge Sharing Event “Responding to New Requirements and Challenges in Corporate Financial and Sustainability Reporting” was held for more than 80 participants on May 28-29, 2024 in Vienna, Austria.
Second Regional Audit Quality Assurance Forum “Practical examples of public oversight and quality control of audit”
The second Audit Quality Assurance Forum convened on November 7-8 in Skopje, North Macedonia, bringing together 51 representatives from competent authorities in the field of audit public oversight across Western Balkan countries. Ministries of finance and professional accounting associations, which play a crucial role in this domain, were also present.
Good Practices in Audit Oversight and Enforcement: Insights from the Polish Agency for Audit Oversight
The knowledge sharing event on "Good Practices in Audit Oversight and Enforcement: Insights from the Polish Agency for Audit Oversight" took place on October 3-4, 2023, in Warsaw. This event, organized by the World Bank Centre for Financial Reporting Reform, was part of the regional project The Road to Europe Program of Accounting Reform and Institutional Strengthening for Small and Medium Enterprises (REPARIS for SMEs).
Improving Audit Quality in Western Balkans Countries Through Regional Cooperation
The inaugural meeting of the Regional Audit Quality Assurance Forum was held in Vienna on May 16-17, 2023. The event was organized under the Road to Europe Program of Accounting Reform and Institutional Strengthening for Small and Medium Enterprises (REPARIS for SMEs) and for representatives of competent authorities responsible for public oversight and quality assurance in the Western Balkans countries. The event was attended by 60 participants including from public oversight bodies, professional accounting organizations (PAOs), and ministries of finance.