FOR IMMEDIATE RELEASE
FCM and IEKA debate latest developments in the Audit Profession
(Tirana, Albania, November 4, 2013) – The Fédération des Experts Comptables Méditerranéens (FCM), representing the accountancy profession in the Mediterranean region in cooperation with the Albanian Institute of Authorized Chartered Auditors (IEKA) held in Tirana, the capital of Albania, its 12th Annual Conference on “Today’s Audit profession requires an effective interaction and combination of Professional Standards, Ethics, Public Oversight and Quality Control”.
The 12th FCM Conference was a great success for the profession in Albania and in the region and focused on the today’s trends and developments in the field of Auditing and Audit Profession, emphasizing the importance of a proper combination of technical, ethical and oversight standards.
The approximately 300 Conference participants were welcomed by Mr. Samir Agoumi, President of FCM and Mr. Hysen Cela, President of IEKA, who pointed out that the Audit Profession today needs to change in order to add value to businesses and increase the confidence and trust to the users of the financial information.
The FCM Conference was strongly supported by the Albanian Government Authorities, including the Albanian Prime Minister, Edi Rama. Speaking in the conference Mr Shkelqim Cani, the Albanian Minister of Finance said “We consider the Audit Profession not only as a guarantee for a broad certification of financial reporting, but also as a guarantee for the protection of public interest”.
In addition Mr. Arben Ahmeta, the Albanian Minister of Economy, emphasized the fact that Government of Albania, will undertake in due course proper measures aimed to enhance the transparency of financial data in the private sector, so the audit role needs to be reconsidered as well. Mr. Bujar Leskaj, Head of the Supreme Audit Institution in Albania stressed out the need for enhancing the quality and improving the audit role for better serving the economic growth.
The Conference also addressed a number of other different topics, such as The Oversight Principles for the Audit Profession, Public Oversight, Benefits and Challenges, national experience sharing in this field, Ethics Values and Audit Quality, SME Audits as well as lesson learned from the World Bank major projects in south eastern Europe (REPARIS).
However, reactions for the crisis consequences and the reconsideration of the auditor`s role was the main focus. As Mr. Samir Agoumi, FCM president said “The crisis has also generated much discussion about what the drivers of good financial reporting are and how the audit function could be enhanced”.
The Conference was attended by delegates from Europe, Africa and Asia, brought to participants’ attention different viewpoints on audit regulation and oversight, seen from different perspectives such as FEE position, IFIAR position, National professional body position, etc.
High-profile speakers presented their ideas, including Mr. André Kilesse, President, Fédération des Experts Comptables Européens (FEE) ; Mr. Arnold Schilder, Chair, International Audit and Assurance Standard Board (IAASB); Ms. Julia Rendschmidt, International Forum of Independent Audit Regulators (IFIAR); Ms. Sue Almond, Technical Director, ACCA; Mr. Marcel Coppini, Head of Quality Assurance, Ministry of Finance, Malta; Mr. Florin Toma, Member of IFAC SMP Committee, Ms. Marie Lang, Technical Director, EFAA; Mr. Henri Fortin, Head, Centre for Financial Reporting Reform, The World Bank, Mr. Cédric Gelard, Ordre des Experts Comptable, France; as well as FCM council members, such as: Pino Messina, FCM Founder Member, Special Assignment Director, ACCA; Philippe Arraou, FCM Council Member, France; Mr. Oscar Figueiredo, FCM Council Member, Portugal; Mr. Masum Turker, IFAC Board and FCM Council Member, Turkey; Mr. Elton Haxhi, Member of Albanian Public Oversight Body.
For enquiries please contact FCM Secretariat at firstname.lastname@example.org
The conference programme and presentations are available below.