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PRESS RELEASE

The Audit Committee, from policy to practice

June 6, 2013



200 key Romanian, European, and international policymakers and practitioners discuss how audit committees can contribute to good corporate governance

BUCHAREST, June 6, 2013—The World Bank's Centre for Financial Reporting Reform, in cooperation with the Chamber of Financial Auditors of Romania , is holding the conference ‘The Audit Committee: the keystone of the financial reporting and audit process – from policy to practice’. The event takes place in Bucharest on June 6th, 8:00 AM to 5:30 PM, at Sala Ronda, Hotel Intercontinental.

Welcoming remarks will be delivered by Henri Fortin, Head of the World Bank’s Centre for Financial Reporting Reform, and Horia Neamţu, President of the Chamber of Financial Auditors of Romania.

The conference will convene some 200 participants, among them, chairs and members of audit committees, supervisory board members, chief financial officers, chief executive officers, other senior executives, institutional investors, statutory auditors, lawyers, professionals who advise audit committees, members and staff of financial reporting regulatory and supervisory bodies in Romania, and the academia. 

The objective of the conference is to promote greater awareness and understanding of the audit committee’s role and responsibilities in the financial reporting process. The conference offers practical insights to audit committee members – from both a Romanian and an international perspective – on how they can fulfill their role more effectively. It also gives them an opportunity to discuss with their peers the challenges facing audit committees and how they can contribute to improving audit quality and safeguarding shareholders’ interests.

Audit committees are an integral part of a modern and effective corporate governance environment. They play a critical role in ensuring public-interest companies provide timely and reliable financial information for investors, creditors, and the public at large, and are therefore crucial to the efficient operation of Romania’s capital market and its financial sector more generally.

The event is open to the members of the press. There is interview availability upon expression of interest.

Media Contacts
In Bucharest
Daniel Kozak
Tel : , +4021 2010 388
dkozak@worldbank.org

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