FEE to Hold a Roundtable Meeting to Find Ways to Improve Audit Committees’ Functioning
The FEE recently announced that it would be holding a roundtable meeting to discuss the improvements that should be brought about in auditing committees’ functioning since it is considered to be important for maintaining the quality and standard of finance related information that is offered by entities. The roundtable meeting is being held after the discussion related paper on the very same matter was published in the month of June in 2012. The meeting will be organized in Brussels on the 5th of February in 2013.
The discussion related paper that was published in the month of June was issued with an intention to use it as the beginning point for enhancing thought based leadership on the evolution of auditing committees inside Europe in future. The paper also explored the responsibility of auditing committees in corporate governing as well as divergence in the composition and functions of auditing committee throughout Europe. The paper also recommended several legislations and responses that would improve the role of auditing committees. In addition to this, the discussion related paper also clarified the roles that auditing committees should play so that finance related reporting can be improved further.
For fostering the debate, the Federation of European Accountants is now making arrangements for a conference on the topic so that it is able to determine ways in which the functioning of the Auditing Committees can be improved further.
The conference will not only bring the Europe’s decision makers as well as appropriate stakeholder together but will also witness participation from auditors, regulators and investors, where they will discuss the ways in which the audit committees functioning can be further improved.
A company as well as the auditor who is participating externally would benefit largely if the auditing committees as well as the auditor exchange information of the highest quality with each other and cooperate with each other throughout the auditing engagement procedure. The Federation of European Accountants is looking to enlarge and widen the debate in order to find solutions that can help enhance the audit committees functioning.
There is absolutely no fee being charged for participating in the conference. But given that limited seats are available, only those members who have been invited can participate in it.