Conferences & Seminars

10th FCM Annual Conference “SME’s Financial Regulation: Striking the right balance between transparency and regulatory simplicity” – Rome on the 5th of December 2011

The full conference programme and presentations are available on the links at the bottom of this page.

On the 5th of December 2011 FCM held it’s 10th Annual Conference in Rome, Italy. The event attracted 140 participants from around the Mediterranean region and was a resounding success.

There is a growing awareness of the importance of SMEs for the creation of wealth, and this is particularly true for the Mediterranean region as SMEs and Micro enterprises represent by far the greatest percentage of the region’s economy.

The impact of regulation on SMEs is a key topic. Recent studies show that small entrepreneurs perceive red tape as the main problem they are facing, even more than access to finance.

When assessing the impact of regulation on SMEs, the objective is not only to determine how to avoid unnecessary burdens but to consider also the primary role of good regulation, which provides confidence to markets and, more generally, to people dealing with business. Good regulation is fundamental for financial stability and prosperity, as clearly evidenced by the recent financial and economic crisis.

This is particularly true with regard to financial regulation. Sound accounting and auditing rules improve SMEs access to finance by increasing the transparency and reliability of financial information. Enhancing the financial literacy of SMEs also creates a positive impact on management capacity. On the other hand, too complex requirements can be harmful, can pollute the compliance attitude of SMEs, and act as a disincentive for SMEs to stay in the formal economy.

Policy makers and standard setters are currently debating what constitutes a sustainable regulatory framework for SMEs, with key contributions from the G20, the EU Commission, the World Bank and other national and international institutions.

It was in the perspective of the above that FCM organised its 10th annual conference “SMEs Financial Regulation: striking the right balance between transparency and regulatory simplicity”

Speakers at the event included:
– Göran Tidström, IFAC President;
– Philip Johnson, FEE President;
– Richard Fleck, Chair Auditing Pracitces Board, FRC;
– Lino Cardarelli, Senior Deputy Secretary General UFM;
– Giancarlo Attolini, Incoming Chair IFAC SMP Committee;
– Axel Pestke, EFAA and CEO Deutscher Steuerberaterverband;
– Yoseph Asmelash, Economic Affairs Officer UNCTAD;
– Latifa Echihabi, CEO Anpme Morocco;
– Bora Topaloglu, Group Director, Auditing and Compliance Governance, Turkish Ministry of Finance;
– Andrea Benassi, Secretary General UEAPME

The full conference programme and the speakers’ presentations are available on the links here below.