1. The Road to Europe Program of Accounting Reform and Institutional Strengthening Alain Colliou, Director, Operations Policy and Services, Europe and Central Asia Region, World Bank REPARIS Conference, Brussels, June 30, 2004

2. Agenda  Overview of the Weaknesses in the Statutory and Institutional Framework for Corporate Financial Reporting and Consequences Mr. Frédéric Gielen, Senior Financial Specialist, World Bank  The European Response for Reliable and Transparent Financial Reporting Mr. Karel Van Hulle, Head of Unit, Internal Market Directorate General, European Commission

3. Agenda (cont.)  The Roundtable/White Paper on Corporate Governance in South East Europe : a Framework for Improving Financial Reporting Ms. Mathilde Mesnard, Administrator, Corporate Affairs Division, OECD  The Contribution of a Robust Accounting and Audit Profession to Reliable and Transparent Financial Reporting Mr. David Devlin, Chairman, European Federation of Accountants

4. Agenda (cont.)  The Committee of European Securities Regulators : the Importance of Enforcement Mechanisms Mr. Paul Arlman, Secretary General, Federation of European Securities Exchanges; Former Member of the Board of Directors, World Bank  Presentation of the Proposed Regional Program of Accounting Reform and Institutional Strengthening Mr. John Hegarty, Manager, Financial Management, Europe and Central Asia Region, World Bank

5. Agenda (cont.)  Implementing the Acquis Communautaire : Recent Experience in Estonia Mr. Ago Vilu, Chairman of Estonian Accounting Standards Board, Representing the Ministry of Finance, Estonia  Country Perspective and Open Discussion : the Proposed Reginal Program as a Framework for Implementation of the Relevant Acquis Communautaire and the Establishment of a Sound Institutional Framework for Corporate Reporting Facilitated by Mr. John Hegarty, Manager, Financial Management, Europe and Central Asia Region, World Bank

6. Objectives  Knowledge-sharing Forum to Understand Issues and Impact of Accounting Reform and Institutional Strengthening in South East and South Central Europe  Platform to Develop an Agenda and Form a Partnership to Tackle Issues and Impact of Accounting Reform and Institutional Strengthening

7. Knowledge-sharing Forum  Forum to Discuss the Impact of Sound Accounting, Financial Reporting, and Auditing :  Financial System Stability  Increased Private Sector Growth  Impact Achieved Through :  Indirect Contribution to a Well Functioning Market Economy  Building the Infrastructure For a Thriving Economy  The Acquis Communautaire Provides the Sketch of the Infrastructure, now the construction work must begin

8. Platform to Develop an Agenda and Form a Partnership  Sharing Among Ministers and Deputy Ministers of Finance on How to Tackle Issues and Interest in REPARIS  Indicate Support and Willingness to Participate to REPARIS by Development Partners