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FEE Weekly EU Regulatory update
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Weekly update of EU Regulatory news for FEE Members
FEE conference on auditing 30 June 2011: On Thursday 30 June 2011, FEE will organise its fourth high level conference in Brussels to address key issues in audit policy in the EU. The conference will be aimed at sharing and discussing the views of all relevant stakeholders in the European debate. Amongst others, speakers include: Michel Barnier, European Commissioner, James Doty, Chairman, Public Company Accounting Oversight Board (PCAOB), USA, Wouter Bos, Partner KPMG and Former Finance Minister of the Netherlands. View
22nd XBRL International Conference in Brussels, 17-19 May 2011: This conference provides a key opportunity to learn about the most recent developments worldwide and in Europe about the use of eXensible Business Reporting Language (XBRL), a universal standard for business reporting. The theme of the conference “Sharing Economic information in a Global World: the XBRL contribution” highlights the focus of the program to present solutions to solve today’s business challenges by improving interoperability, enhancing transparency and reducing the administrative burden in organisations throughout the world. Conference Speakers include: Didier Reynders, Vice 1st Minister and Minister of Finance of Belgium, Pierre Delsaux, European Commission Director, Internal Market and Services, Carlo Comporti, Secretary General of European Securities Market Authority (ESMA/CESR), Olivier Boutellis-Taft, CEO of FEE. XBRL International and XBRL Europe are happy to offer a 10% discount to FEE members. View
Proposed Predictive Analytics Guidance from IFAC Highlights Importance of Anticipating the Future: The IFAC Professional Accountants in Business (PAIB) Committee has issued proposed International Good Practice Guidance titled “Predictive Business Analytics: Forward-Looking Measures to Improve Business Performance”. The guidance is designed to help professional accountants working in commerce, industry, financial services, education, and the public and not-for-profit sectors, as well as their organisations, embrace predictive analytics to achieve better forward-looking performance insights. View
The Trustees of the IFRS Foundation have published for public comment the preliminary conclusions of their strategy review: The Trustees are committed to coordinating the conclusion of their review with the IFRS Foundation Monitoring Board, in order to arrive at an integrated set of proposals on the basis of the following proposals and the final decisions reached by the Monitoring Board following its separate public consultation. View The Trustees will organise on 21-22 June in London a roundtable to discuss the recommendations in their strategy review paper. They offer to register through the IFRS Foundation website. View
EFRAG outreach events: EFRAG has prepared summaries of IASB re-deliberations to date on the Revenue Recognition and Leases projects, highlighting the changes made from the Exposure Drafts and the concerns the changes are intended to resolve. The summaries have been prepared in order to stimulate the discussions at EFRAG’s outreach events, organised in co-operation with National Standard Setters throughout Europe. View The purpose has been to enable participants assessing whether raised concerns with the Revenue Recognition and Leases projects have been resolved. View EFRAG and the UK Accounting Standards Board also organise an event in Brussels as a follow up to the Discussion Paper Considering the Effects of Accounting Standards on Monday 16 May from 2.30 pm to 5.00 pm. The event will be hosted by the European Commission at their offices. View
EIOPA publishes a report on reporting requirements by pension funds: The aim of this project is to analyse in detail the difference in reporting requirements amongst Member States, and the link, if any, between reporting requirements and supervisory regime. This report contains important information on supervisory regimes and practices for Institutions for Occupational Retirement Provision (IORPs) in the EU and will provide a valuable input to EIOPA further work in this area. View
EBA framework on common reporting: The European Banking Authority published a revision of its framework on Common Reporting (COREP rev3). The objective is to take account of the CRD III amendments (Directive 2010/76/EU) of the European Parliament and of the Council of 24 November 2010. The EBA is currently working on the development of uniform reporting standards in accordance with Art. 74(2) of Directive 2006/48/EC as amended in 2010. View
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