EFAA Accounting and Audit Expert Group Meeting

2019-06-26 - 06:57

Representatives of SCAAK are attending the European Federation of Accountants and Auditors for SMEs (EFAA) Accounting and Audit Expert Group Meeting, which is being held in Amsterdam, Netherlands.

Among the agenda items of this meeting is the reminder of activities since the WebEx meeting held in April 2019, The International Auditing and Assurance Standards Board (IAASB) discussion paper on Audit of Less Complex Entities and the IAASB Exposure Draft on Quality Management.

Also, during the meeting participants are discussing other important issues, the expert group is responding to the monitoring group white paper of reform proposals for strengthening governance and oversight of international audit-related standard-setting boards in the public interest. This paper is not expected until late 2019 / early 2020. Members are reminded of EFAA's response to the monitoring group consultation paper strengthening the governance and oversight of the international audit-related standard-setting boards in the public interest and the EFAA response to the IAASB’s Proposed Strategy for 2020-2023 and Work Plan 2020-2021. Part of the discussion is also the developments from member countries and EFAA’s next meeting.

While the Accounting Expert Group are discussing Work Plan 2019-2020, International Accounting Standards Board (IASB), European Financial Reporting Advisory Group (EFRAG) and the European Commission Consultations, the Comprehensive Review of IFRS of SMEs and other projects regarding work plan 2019-2020.