The fourth national conference under the Road to Europe Program of Accounting Reform and Institutional Strengthening for Small and Medium Enterprises (REPARIS for SMEs) regional project was held on May 24, 2024, in Ulcinj, Montenegro. The conference was organized in cooperation with the Institute of Certified Accountants of Montenegro (ICAM) as part of ICAM’s 9th International Symposium of Accountants and Auditors of Montenegro.
The conference saw an impressive turnout, with over 300 participants including certified auditors, professional accountants, audit committee members of public interest entities and large state-owned enterprises (SOEs), representatives from various regulators, internal auditors, and academia.
The overall aim of the conference was to raise awareness of the pressing issue of sustainability, particularly in relation to environmental, social, and governance concerns, as well as on increasing the role of audit committees in respect to financial and sustainability reporting.
Discussions of the roles and responsibilities of audit committees generated particular interest. A panel of local experts discussed and provided their views on how the functionality of Audit Committees, especially in SOEs, can be strengthened. A separate article on this topic has been published.
Participants found the conference topics to be relevant and timely. They recognized efforts were now needed to amend current national legislation to introduce sustainability reporting requirements in line with EU provisions, to clarify and strengthen the role of the accounting profession with respect to both financial and non-financial reporting, as well as the functions and responsibilities of Audit Committees. REPARIS for SMEs would continue to be a valuable source of information and support in achieving these aims.
