1. South East Europe
Implementing and Enforcing International Standards for Financial Reporting and Auditing
2/25/2019
by: John R. Rieger CPA

2. Regional Challenges _______________________
Corruption and the Accountants Role
The OECD anti-corruption convention includes several sections that apply to accountants, accounting, codes of conduct, internal controls, and strong penalties for violations.
2/25/2019
by: John R. Rieger CPA

3. Corporate Governance and State Owned Entities ___________________________________________________
State owned entities (partially or wholly owned) should be subject to the same corporate governance requirements especially in the area of transparency and disclosure.
2/25/2019
by: John R. Rieger CPA

4. Auditors and the Audit _______________________
Major changes are taking place with the status of the auditor and their responsibility.
Independent oversight board
Revision of auditing standards
New independence requirements
The reach of the US PCAOB
2/25/2019
by: John R. Rieger CPA

5. Issue of Sanctions ____________________
Sanctions need to be sufficiently dissuasive.
Sanctions need to be strong enough to assure that it no benefit for illegal actions is possible.
2/25/2019
by: John R. Rieger CPA

6. Company Obligations __________________________
A System of Internal Control-Tone at the top
Codes of conduct- ethics
2/25/2019
by: John R. Rieger CPA

7. International Accounting Standards ____________________________________________________________
Compliance with IFRS.
An independent accounting standards board for each country.
IFRS and IFRS lite?
2/25/2019
by: John R. Rieger CPA

8. Legal and Regulatory Framework _______________________________________________________________
Bookkeeping law
Accounting law
Audit law
Company law
Integration with criminal law
Integration with civil law
Securities law
2/25/2019
by: John R. Rieger CPA

9. Summary _____________________________________________
Independent standards board.
Independent accounting oversight.
Stronger sanctions.
Monitoring, compliance, education, enforcement.
Company codes of conduct.
Independent company compliance oversight.
Internal controls over financial information.
Management accountability.
Educated judicial system.
Corporate governance for state owned enterprises.
2/25/2019
by: John R. Rieger CPA