Apr 28, 2016
at Third Regional Forum for Professional Accountancy Organizations
Third Regional Forum for Professional Accountancy Organizations
IFAC representatives participated in the Third Regional Forum for Professional Accountancy Organizations (PAOs) in Europe and Central Asia in Vienna, Austria, on April 28. The event was organized by the World Bank Center for Financial Reporting Reform as part of the “Road to Europe: Program of Accounting Reform and Institutional Strengthening” and the “Strengthening Auditing and Reporting in the Countries of the Eastern Partnership” programs (also known as EU-REPARIS and STAREP, respectively).
The Forum brought together representatives from over 20 PAOs from countries in Central, Southeast, and Eastern Europe, as well as experts from the World Bank and the International Accounting Standards Board.
IFAC staff shared the IFAC Member Compliance Program Strategy for 2016-2018, which focuses on producing both qualitative and quantitative analyses of standards adoption, enhanced monitoring of compliance with the IFAC Statements of Membership Obligations, and revising its enforcement framework.
In addition, representatives of IFAC member organizations from Ireland and Singapore, as well as the Chair of the Forum of Firms, participated in panel discussions on the role of PAOs in economic growth and the challenges they face in developing a sustainable business model.