Non-Financial Reporting: The impact on the relationship between Boards and Auditors

Date

15 Mar 2016 14:00 to 17:00

Address

Press Club
rue Froissart, 95
1040  Brussels
Belgium

Event Type

L - Conference, forum

Section

Euro & Finance

Event Description

DATE & LOCATION: 15 March 2016 at the Press Club, rue Froissart, 95 1040 Brussels, 14.00h-17.00h, followed by a networking cocktail reception

CONTEXT:

EU Member States are due to transpose by December 2016 the Directive on Non-Financial Reporting which aims to increase EU companies’ transparency and performance in respect of environment and social matters. Large public-interest entities with more than 500 employees are required to disclose concise, useful information necessary for an understanding of their development, performance, position and impact of their activity.

The Directive specified that the Commission would develop guidelines for companies in order to facilitate their disclosure of non-financial information, taking into account current best practice, international developments and related EU initiatives.

To that end, the Commission has just launched a consultation to develop non-binding guidelines. The objective is to provide companies with a methodology to facilitate the disclosure of comparable non-financial information.

The conference organised by ECIIA, ecoDa and ACCA will provide an opportunity for stakeholders to exchange views on this important topic and input in this new initiative by illustrating some of best practices. The panellists will investigate how boards and internal and statutory auditors can better cooperate for an efficient implementation of the non-financial reporting directive. Depending on the size and the complexity of the organizations, both types of auditors may play a significant role to assist boards in reinforcing long term orientation.

 

Join the discussion and send your registration to xiaoji.zhang@ecoda.org by March 10.

 

AGENDA:

14.00: Welcoming speech: Turid Elisabeth Solvang, ecoDa’s Chair

14.10: Keynote speech: “The Implementation of the non-Financial Reporting Directive”, Nicolas Bernier-Abad, DG Fisma, European Commission

14.20: The International perspective: “Integrated Reporting: what are we waiting for?”, ‘Neil Stevenson, Managing Director: Global Implementation, IIRC

14.30: Panel discussion (30 minutes) – Moderator: Jo Iwasaki, Head of Corporate Governance, ACCA

                Introductory remarks:

                “The new reporting duties: What does it mean for the Board ?”, Paola Schwizer, Chair of Nedcommunity, ecoDa’s board member. Chair of the Audit & Risk Committee of Credem S.p.A. and Inwit S.p.A. (both listed on the Italian Stock Exchange)

“How the internal auditor and the external auditor can help to avoid greenwashing?”, Farid Aractingi, Chief Audit Executive, Renault, ECIIA board member

 

Discussion on what are the key success factors for an accurate and effective non-financial reporting with:

·                    Olivier Boutellis-Taft, CEO, European Federation of Accountants ( FEE )

·                    David Szafran, Lawyer at Law Square and Chair of ISAR 30th session at UNCTAD

·                     Carl Rosen, Vice chair of Better Finance and departing CEO of Aktiespararna and ( from April 1st, Head of State ownership and innovation at the ministry of Enterprise - Sweden)

 

15.45-16.00: Q&A

16.00-16.15: Key note remarks from Richard Howitt, MEP

16.15-16.30: Final conclusions from Henrik Stein, ECIIA President

16.30-17.30: Cocktail reception

 

ABOUT THE ORGANISERS:

ecoDa: European Confederation of Directors’ Associations http://www.ecoda.org/

ECIIA: European Confederation of Institutes of Internal Auditing http://www.eciia.eu/

ACCA: The Association of Chartered Certified Accountants http://www.accaglobal.com/gb/en.html

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