IEC NEWSLETTER-N°13–April 2008
Introduction
Welcome to this new issue of your Newsletter, published after the Executive committee and Board meetings held in Brussels in March 2008.
Board decision concerning Forum of Firms membership
On 31 December 2008, the provisional membership IEC is currently enjoying within the IFAC Forum of Firms, will come to an end. The Board has considered the two options: leave the Forum of Firms, or comply with the criteria for full FoF membership. The second option has been chosen.
Indeed, IEC has to profile itself as a credible network for trans-national audits. Within the changing world of auditing, there is a need for increased independence, quality and labelling. Full FoF membership will be the sign that IEC is rising to meet these new challenges.
The Board has tasked its auditing committee to implement all necessary steps to obtain full FoF membership. It has also decided that FoF membership should not jeopardize referrals between IEC member firms: FoF membership shall be reconsidered if the network definitions and the independence criteria would change.
Eight new firms are waiting to join in!
Six Firms are waiting for a Board member to visit: South Africa , Peru, Pakistan , Turkey, Great-Britain and Poland will soon be visited by a Board member. IEC is growing fast!
Two firms are waiting for Executive Committee approval: Singapore and Indonesia have already been visited by a Board member, and will soon become IEC members, subject to Executive Committee agreement.
Another 10 firms from all over the world have shown signs of interest in IEC. We will keep you updated with developments.
2008 Staff Seminar: May 22nd to 24th, 2008 in Copenhagen
The Staff Seminar will be held in Copenhagen: May 22nd to 24th, 2008.
This year, TimeVision Copenhagen will be hosting the annual IEC 2008 staff seminar; the topic will be “Auditing Across Borders”. (“Cross-Border Auditing” would be better)
Tobi Smit will be presenting the case-study on Cross-Border Auditing: “Many of our customers own corporations in other countries. Often, the audit of these corporations is not performed by ourselves but by auditors in the respective countries. In consequence, our audit of the parent corporation depends to some extent on the work of a colleague from another country. We must therefore take appropriate precautions. How is that done and how do we cooperate successfully with our colleagues from other countries in these situations? These are the core issues of the IEC Staff Seminar 2008."
Staff seminar 2009: Helsinki!
Our Finnish member, NETTOMASTER GROUP, is proud to host the 2009 Staff Seminar, in the beautiful city of Helsinki (http://www.hel.fi/). More information on the 2009 Staf Seminar will be available in upcoming newsletters …
Next Executive Committee meetings
• 23 February 2008: Paris. • 6 March 2008: Brussels. • 31 May 2008: Rome • 26th July 2008 Paris • 13th September 2008: Paris • 04 October 2008: Cyprus.
IEC first Semi-Annual Business Meeting: a great success!
The Semi-Annual Business Meeting took place on 7th March 2008 in downtown Brussels, near the Grand Place.
The main theme was “Developments in Information Technology (IT) Strategies for Accounting and Tax Consultancy Firms”. With 30 people attending, this first Semi-Annual Business Meeting was a real success. Delegates came not only from across Europe, but also from as far as the USA, Canada and Japan. This meeting proved that IEC members were hungry for a business-oriented meeting. Four speakers held the floor and delegates were happy to join in and ask questions. All the delegates who participated expressed their desire to come back next year. Special thanks to Helmo Madsen and Wim Meenink who worked hard to set up this meeting and make it such a success!
Do you need a legal hand in the USA?
IEC’s American New-York-based member, Joe Catalano, at FUNARO & Co, P.C, can lead you to a sound legal adviser. Please don’t hesitate to contact IEC ( info@iecnet.net) in Paris or Joe in New-York (joe.catalano@funaro.com) if you have any questions or demands.
2008 Annual Meeting in Cyprus
This year the IEC Annual Meeting will take place in Cyprus on October 4-7.
As Cyprus is a high-priced tourist destination, even in October, our IEC member Auditchart must secure the bookings well before summer…Please email your completed forms as soon as possible to Mrs Elena Stylianou, at : elena@auditchart.com.
Members’ corner
Portugal: Geoffrey Fletcher (gfletcher@jcamilo-sroc.pt), from Joaquim Camilo & Associado, SROC: “I am delighted to tell you that Tomasz Litwinski has just joined the firm of Joaquim Camilo & Associado - SROC, Lisbon, Portugal. Tomasz is not only a member of the Polish Order of Auditors (KIBR – Krajowa Izba Bieglych Rewidentów) where he holds the title of ”Biegly Rewident”, but also (the only Polish) member of the Portuguese Order of Auditors (Revisor Oficial de Contas). We are confident that Tomasz will make a valuable contribution to our firm and provide valuable service to the development of Polish/Portuguese interests. He joins a firm where the three other registered auditors qualified in France, UK and Portugal respectively.”
Next Board and Executive Committee meetings
31rst May 2008: Rome, EC
26th July 2008 Paris, EC
13th September 2008: Paris, EC
04 October 2008: Cyprus, EC and Board
Michel De Wolf, chairman
Helmo Madsen, executive vice-president
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