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Financial Information: Catalyst for Growth
March 28-29, 2017Brussels, Belgium

The Centre for Financial Reporting Reform is hosting two high-level events, which will discuss the challenges and solutions in quality and transparent financial reporting in the East, Central and Southeastern Europe, and foster exchange of knowledge and experience in the area of financial reporting reforms.

Today’s economic environment poses evolving challenges for businesses, big and small, related to expanding cross‐border operations, growing expectations from investors and regulators, and the increasing complexity of financial transactions.

Following the success of the Senior Officials’ Workshop in Vienna in April 2016, this year’s workshop will facilitate the exchange of vital knowledge and experience related to ongoing financial reporting reforms and initiatives.

The workshop will convene Senior Officials from ministries of finance and economy of the countries covered by the following programs: The Road to Europe: Program of Accounting Reform and Institutional Strengthening (EU‐REPARIS) and Strengthening Auditing and Reporting in Countries of the Eastern Partnership (STAREP).

The objectives of the 2017 Senior Officials’ Workshop on March 28 and Program Partners Meeting on March 29 are to:

  • Provide a platform for delegates to interact with and learn from experts from the Directorate‑General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) of the European Commission.
  • Identify the main difficulties and discuss the solutions identified during the transposition process in the areas of accounting and audit.
  • Share experiences in key cross‐cutting issues relating to the transposition and implementation of the accounting and auditing directives.
  • Foster direct dialogue between participating countries and development partners supporting both regional programs.

 

Download Full Agenda (PDF).

FINANCIAL INFORMATION: CATALYST FOR GROWTH

2017 Senior Officials’ Workshop and Program Partners Meeting

Brussels, Belgium

28-29 March, 2017

Tuesday, March 28 Senior Officials’ Workshop
08:30

Registration and Welcome Coffee

MC: Jarett Decker · Head, Centre for Financial Reporting Reform (CFRR), The World Bank

09:00

Welcome Remarks

Niall Bohan · Head of Unit, Capital Markets Union, DG FISMA, European Commission

Soukeyna Kane · Practice Manager, Financial Accountability and Reporting, Governance Global Practice, Europe and Central Asia, The World Bank

Massimiliano Paolucci · Special Representative to the European Union, The World Bank

09:45

Capital Markets Union: Benefits and Challenges

Niall Bohan ∙ Head of Unit, Capital Markets Union, DG FISMA, European Commission

Discussant: Jarett Decker ∙ Head, CFRR, The World Bank

This session will highlight the status of the European Commission’s Capital Markets Union (CMU) project and the importance of financial reporting reforms to more free flowing financial capital across the Union. This session will provide an opportunity for participating countries to learn more about the benefits of the CMU for the business community.

10:30

Coffee Break
11:00

Implementation Challenges and Issues in Transposing the Acquis Communautaire among EU Member States

Alain Deckers ∙ Head of Unit, Accounting and Financial Reporting, DG FISMA, European Commission

Paul Gisby ∙ Manager, Accountancy Europe (formerly FEE)

Moderator: Andrei Busuioc ∙ Senior Financial Management Specialist, CFRR, The World Bank

This session will provide senior officials with an insight into the transposition process across EU Member States in the area of financial reporting and audit. Participants will learn about the key issues commonly identified by the European Commission’s assessment of Member States’ transposition of the relevant EU laws into national law. Participants will have an opportunity to identify potential solutions to their key reform issues and discuss them with the European Commission.

12:30 Lunch
13:30

Technical Assistance and Information Exchange Instruments Available for EU and non‐EU members

Lazar Todorov ∙ Team Leader for Internal Market, Institution Building Unit, Directorate‐General for Neighbourhood and Enlargement Negotiations (DG NEAR), European Commission

Moderator: Natalie Manuilova ∙ Senior Financial Management Specialist, CFRR, The World Bank

This session will give an overview of the existing exchange mechanisms made available by the European Union for its member states, and for non‐EU members. Participants will have an opportunity to learn about various windows of opportunity and participate in a Q&A session.

14:30 Coffee Break
15:00

Regional Activities, Results and Ongoing Plans: Update for 2016‐2017

This session will provide an opportunity for participants to share their experiences and discuss reform updates, as well as outline any follow up needed under each regional program for 2017 and beyond. The session provides a good opportunity for interaction and feedback between senior officials and also the CFRR team.

Breakout 1: STAREP Program

Moderator: Natalie Manuilova ∙ Senior Financial Management Specialist, CFRR, The World Bank

Breakout 2: EU‐REPARIS Program

Moderator: John Hodge ∙ Senior Financial Management Specialist, CFRR, The World Bank

17:00 End of Day 1/Reception

Wednesday, March 29

Program Partners Meeting

8:30

Registration and Welcome Coffee

MC: Reinhard Haslinger ∙ Senior Operations Officer, CFRR, The World Bank

8:45

Welcome and Introductory Session

Opening Remarks

Lawrence Meredith ∙ Director, Neighbourhood East, Directorate‐General for Neighbourhood and Enlargement Negotiations, European Commission

Edward Olowo‐Okere ∙ Director, Financial Accountability and Reporting, Governance Global Practice, The World Bank Director

Financial Reporting and Economic Growth: Reflections from Serbia’s Experience

Dusan Vujovic ∙ Minister of Finance, Republic of Serbia

Moderator: Soukeyna Kane ∙ Practice Manager, Financial Accountability and Reporting, Governance Global Practice, Europe and Central Asia, The World Bank

9:45

Western Balkans Round Table Discussion: “Regional Update from the European Perspective and Key Priorities for the Integration Process”

Introductory Remarks: Colin Wolfe Head of Unit, Western Balkans Regional Cooperation and Programmes, Directorate‐General for Neighbourhood and Enlargement Negotiations, European Commission

Moderator: Kalina Sukarova ∙ Senior Financial Management Specialist, CFRR, The World Bank

The session will give participating countries an opportunity to share a summary of program activities and highlights, as well as to discuss reform successes and the challenges that lie ahead.

11:00 Coffee Break
11:30

Eastern Partnership Round Table Discussion: “The European Perspective and Key Priorities for the Association Process”

Introductory Remarks: Lawrence Meredith ∙ Director, Neighbourhood East, Directorate‐ General for Neighbourhood and Enlargement Negotiations, European Commission

Moderator: Natalie Manuilova ∙ Senior Financial Management Specialist, CFRR, The World Bank

The session will give participating countries an opportunity to share a summary of program activities and highlights, as well as to discuss reform successes and the challenges that lie ahead.

12:55

Closing Remarks (End of Part I: Program Partners Meeting)

Soukeyna Kane ∙ Practice Manager, Financial Accountability and Reporting, Governance Global Practice, Europe and Central Asia, The World Bank

13:00 Lunch
Event details
  • what: Senior Officials’ Workshop and Program Partners Meeting
  • When: 28-29 March, 2017
  • where: Hotel Sofitel Europe