Weekly update of EU Regulatory news for FEE Members
FEE publishes four Policy Statements on Audit Policy: In the context of the debate on audit policy, FEE has prepared four Policy Statements on a number of topics directly relevant to audit policy: Provision of Non-Audit Services to Audit Clients that are Public Interest Entities, Improved Auditor Reporting, Public Oversight of Statutory Auditors and Audit Firms auditing Public Interest Entities and non-Public Interest Entities, Adoption of International Standards on Auditing (ISAs) in the European Union. View
FEE comments on EBA Consultation Paper: FEE comments on the EBA Consultation Paper on draft Guidelines for assessing the suitability of members of the management body and key function holders of a credit institution highlighting that individual competences and general understanding of the complexity of the business model and its societal impact are essential.
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International Federation of Accountants (IFAC): IFAC has published the 2012 edition of the International Auditing and Assurance Standards Board (IAASB) handbook on International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements Released,
view and the International Ethics Standards Board for Accountants (IAESB) 2012 Handbook of the Code of Ethics for Professional Accountants.
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IFAC SMP Quick Poll results, May-June 2012: Complexity and pace of change of regulations, in particular tax requirements, topped the list of challenges faced by small- and medium-sized accountancy practices (SMPs) and their small business clients in the first half of 2012, according to the released IFAC SMP Quick Poll results.
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Better CSR advice to SMEs: As part of the European Commission’s project “Networking for better CSR Advice to SMEs” a two-day international networking conference took place on the 12 - 13 June 2012 in Berlin. The event was attended by practitioners and experts from all over Europe. For an overview of the event as well as a short summary of each session please view the report.
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Tax: OECD updates OECD Model Tax Convention: The OECD has updated Article 26 of the OECD Model Tax Convention, which sets out the international standard on exchange of information. It allows tax authorities to ask for information on a group of taxpayers, without naming them individually. According to the OECD’s Centre for Tax Policy, this update represents a step forward towards more transparency.
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AML: 20th Egmont Group Plenary 2012: The Egmont Group of Financial Intelligence Units (FIUs) met on 9 – 13 July 2012 in Saint Petersburg, Russia to discuss ways to meet the challenges being faced in international cooperation in the sharing of information and financial intelligence between FIUs to support international AML/CTF efforts. Eight training sessions held throughout the plenary week focused on topics of contemporary operational concern to FIUs.
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Transparency International publishes Annual Report 2011: Transparency International is active in more than 100 countries, and its Annual Report provides a snapshot of how they tackled corruption in 2011.
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Events
FEE Conference - Corporate reporting of the future, Brussels, Tuesday, 18 September 2012: Don’t miss out this unique opportunity and help shape how business will report in the future! This high level conference will bring European decision makers and relevant stakeholders including preparers, users, analysts, global standard setters and regulators together to discuss the future of corporate reporting. As places are limited, attendance is upon invitation only. Should you be interested in attending, please submit your interest indicating your name, title and organisation to
conference@fee.be. The draft programme is now available from the FEE website:
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2nd UEAPME European SME Convention on 1 October 2012 - registrations are open: With the support of the European Commission, UEAPME will organise its 2nd “European SME Convention” in Brussels on 1 October 2012. The aim is to take stock of the financial proposals of the European Commission for the 2014-2020 programming period on cohesion policy, on the “Horizon 2020” programme for R&D and innovation and on the “COSME” programme for the competitiveness of SMEs.
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5th International Conference on Corporate Social Responsibility, 4 – 6 October 2012, Berlin:The Conference will focus on the future of CSR by exploring whether more collaboration between relevant global entities can bring more consistency across different institutions. About 100 international representatives from science, business, politics and governmental as well as non-governmental organisations will gather in Berlin to discuss the role and impact of CSR on corporate, manager and stakeholder behaviour.
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