SCAAK part of the seminar: Responding to New Requirements and Challenges in Corporate Financial and Sustainability Reporting

2024-05-29 - 03:55

On May 28-29, 2024 - The Executive Director of SCAAK Mrs. Ardiana Bunjkau, along with representatives from the Kosovo Council for Financial Reporting (KCFR) and the Public Oversight Board (POB), are attending a significant seminar organized by the World Bank Center for Financial Reporting Reforms (CFRR). Themed "Responding to New Requirements and Challenges in Corporate Financial and Sustainability Reporting," this seminar is held within the framework of the REPARIS for SMEs program and the new Enhancing Accounting, Auditing, and Sustainability Reporting Program (EASURE).

This knowledge sharing event is an opportunity for participants to interact with international experts and regional peers on topics related to corporate sustainability and financial reporting, public oversight, and audit.

The specific objectives of the two-day event are to:

• Launch the new regional program EAASURE and discuss planned activities and expected results with beneficiaries. The program will provide further support to countries in addressing new EU requirements in the field of corporate financial and sustainability reporting; where countries have an obligation to transpose and adopt these requirements via national legislation, they will receive tailored implementation support.
• Discuss the implications and lessons learnt from implementing EU audit reform, to support participating countries on their own reform path and alignment with good practice.
• Learn from the experience of Greece in institutionalizing the framework for audit oversight in line with EU provisions.
• Gain insights and updates from the International Forum of Independent Audit Regulators (IFIAR) and some of its members, particularly on the 2023 inspection findings, technology in audits, and sustainability reporting assurance.
• Learn from the experience of the Financial Reporting Council (FRC) of the United Kingdom regarding annual review of corporate reporting and governance.
• Discuss selected aspects related to SOE governance, monitoring, and review of audited financial statements by the ownership entity, and the role of the audit committee.
• Discuss the increasing role and impact of AI in corporate financial reporting and audit.
• Review the updated A&A ROSC methodology, particularly on accounting and auditing performance indicators.