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ACAP conference on challenges facing the audit profession in Moldova, 3 March 2011

On 3 March, the Association of Professional Accountants and Auditors of Moldova (ACAP) held an conference on the challenges facing the audit profession in Moldova. The conference was opened by Victor Barbaneagra, Deputy Minister of Finance of the Republic of Moldova, and Veaceslav Ciobanu, president of ACAP.

ACAP Conference on audit self-regulation, 3 March 2011, Chisinau

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Andrei Busuioc at the ACAP Conference on audit self-regulation, 3 March 2011, ChisinauAndreia Stanciu and Mircea Bozga from ACCA South-Eastern Europe gave a presentation outlining recent trends in auditing in the light of past developments.

Andrei Busuioc, from the CFRR, then gave a presentation on "The role of professional bodies and their contribution to the system of public oversight under the EU acquis communautaire". Mr Busuioc identified the significant challenges facing the audit profession in operating a self-regulation system as part of a public oversight system that is compliant with the EU Statutory Audit Directive, and he discussed the strategic decisions that will have to be taken by Moldova. Mr. Busuioc gave the audience some ideas for consideration when making choosing the model for implementing the EU statutory Audit Directive in Moldova.

ACAP Conference on audit self-regulation, 3 March 2011, ChisinauACAP's CEO Marina Selaru and Mr Ciobanu gave a presentation on the role of professional organizations in the self-regulation of audit activities.

The conference also drew on the experience of other countries in the regulation of auditing. The presentations from Mikhail Krapivko, the vice president of the Auditors Association of Ukraine, and from Emil Culda, vice-president of the Chamber of Financial Auditors of Romania, were very informative and were welcomed by conference participants. Paul Hurks, International Education Director of the Netherlands Institute of Chartered Accountants (Royal NIVRA) gave two presentations – the first on the changing balance between self-regulation and government regulation in the accountancy profession in the EU, while the second outlined the program "Assistance in the implementation of the system of quality control in audit" which was being launched in ACAP with the support of experts from PUM, the Dutch agency providing advice to businesses in developing countries.

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