Article by Jarret Decker,Senior Financial Management Specialist of the World Bank Centre for Financial Reporting Reform, on audit and public oversight in Ukraine as published in the Professional Accountant's School, Issue #1 (156) for January-February 2015.
An introduction into Austria’s corporate financial reporting environment, with a particular focus on SMEs and specific features of the Austrian environment, intended for policy makers, regulators and practitioners looking for examples of how to formulate or implement the corporate financial reporting elements of the EU acquis communautaire.
This Guide outlines the European Union (EU) legislative framework governing corporate sector accounting and auditing. It is primarily intended for policymakers, regulators, and other stakeholders in countries in Member States, enlargement countries, countries within the "European Neighbourhood" and others interested in understanding the EU regulatory model.
The report describes the South-South Corporate Financial Reporting Exchange Program for Moldova, as a result of which the Moldovan side obtained a better understanding of challenges and defined some policies to achieve the aim of setting up and operating a modern system of financial reporting which is aligned with EU requirements.
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.
A conference “Challenges and Achievements of Public Oversight in Improving Audit Quality and Financial Reporting” organized by the Public Oversight Board of Albania on November 19, 2024, in Tirana, Albania convened about 200 participants, representing professional accountants and auditors, academia, professional accounting associations, and various regulators, including the Ministry of Finance, Bank of Albania, Financial Supervisory Authority, and National Accounting Council.
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.
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.
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.