ACCA - The global body for professional accountants

25 September; 2pm-6pm followed by cocktail reception; European Parliament, Brussels, Room A1G3

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Sajjad Karim, MEP, is delighted to invite you to an informed roundtable organised by ACCA ( the Association of Chartered Certified Accountants) in partnership with ecoDa (the European Confederation of Directors' Associations) to discuss the various proposals linked to audit quality and transparency as well as those targeting independence and market structure. 

For Internal Market and Services Commissioner Barnier, stakeholders’ confidence in the audits of financial statements is an essential ingredient for growth and competitiveness. The European Commission believes that promoting healthy competition and effective supervision of the audit sector is key to restoring trust in this service, which plays a pivotal role in business by promoting the causes of transparency, accountability and sound financial management.

With this in mind, and in order to clarify and reinforce the role of audit, the EU Executive published on 30 November 2011 its legislative package, which comprises a directive to amend the current statutory audit directive and a new regulation containing specific requirements for the audit of Public Interest Entities. 

Although there is consensus that any reform must help resolve the gap that exists between what auditors are asked to do and what some stakeholders and citizens expect from the audit process, there are, however, diverging perspectives on how to achieve this and make auditing more effective and relevant in the 21st century. 

The co-legislators - the EU Parliament and the Council - are currently preparing their respective positions on the legislative package. It is thus the right moment to pursue the constructive dialogue already initiated between the EU decision-makers and all stakeholders to ensure that final audit measures can deliver the maximum benefit for businesses and the real economy in Europe. 

Please RSVP by 14 September to cecile.bonino@accaglobal.com

For participants who do not have a permanent pass for the European Parliament, please send your following details, together with your registration, to Cecile Bonino:

  • date and place of birth
  • nationality
  • passport or ID number

Draft agenda

2pm: Registration 

2.30pm: Welcome speech by the host Sajjad Karim, MEP 

2.40pm: Panel on transparency and quality moderated by Sue Almond, Technical Director, ACCA 

  • Dan Montgomery, Taskforce Chair of the auditor reporting project, International Auditing and Assurance Standards Board (IAASB)
  • Liz Murrall, Member of the European Fund and Assets Management Association (EFAMA) 
  • Jella Benner-Heinacher, President of Euroshareholders
  • Steven Maijoor, Chair of European Securities and Markets Authority (ESMA) tbc 
  • Hilde Blomme, Deputy CEO of the Federation des Experts-comptables Europeens (FEE)  

3.40pm:  Q&As 

4.10pm: Panel on independence and market structure, moderated by Brendan Murtagh, IAASB board member 

  • Sebastian Valentin Bodu, MEP, shadow rapporteur for the EPP on audit tbc
  • Kristian Koktvedgaard, Businesseurope
  • Per Lekvall, member of the European Confederation of Directors' Associations (ecoDa) 
  • Jos van Huut, President of European Group of International Accounting Networks and associations (EGIAN)
  • Robert Pierce, PwC Partner–Belgium

5.10pm: Q&As  

5.30pm: Nathalie Berger, head of the audit unit, DG MARKT

5.40pm: Views from the EU presidency tbc

5.50pm: Conclusions by Sajjad Karim, MEP 

6pm: Cocktail reception