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Roundtable on accounting curricula and workshop on building effective regulation in corporate financial reporting in Moldova

3-5 April, 2012, Chisinau

As part of the REPARIS program, the CFRR co-organized two events – a roundtable on "Modernizing accounting and auditing curricula" (3 April 2012) organized with the Faculty of Accounting in the Academy of Economic Studies of Moldova (ASEM), and a workshop on "Building effective regulation and education in the area of corporate financial reporting" (4 April 2012) organized in cooperation with the Association of Accountants and Auditors of the Republic of Moldova (ACAP RM). Both events were held in Chisinau in connection with the celebration of Professional Accountant's Day in Moldova on 4 April.

Roundtable on modernizing accounting and auditing curricula

The roundtable on modernizing accounting and auditing curricula was held as a follow-up event to regional REPARIS events organized by the Accounting Education Community of Practice (EduCoP). The event had two main objectives:

  • to promote the comparability of accountancy degrees offered by ASEM with foreign professional qualifications and to support the international recognition of ASEM qualifications; and
  • to highlight possible areas for co-operation between the University sector, the audit regulator and the profession in the design and delivery of education programs in accounting and auditing at both initial and continuing professional development stages.

To the REPARIS program page

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Alex Fawcett from the CFRR gave a presentation at the roundtable on how accounting and auditing curricula could be modernized.

Valentina Paladi, the Dean of the Faculty of Accounting in ASEM welcomed the initiatives to modernise accounting and auditing curricula and expressed her appreciation for the activities of the REPARIS program in supporting capacity development in the area of accounting education.

Workshop on building effective regulation and education in corporate financial reporting in Moldova

The 4 April, the CFRR and ACAP RM organized a workshop on “Building effective regulation and education in corporate financial reporting”. The event was attended by over 90 participants from various government institutions, academia, and the accounting and auditing professions. The overall objectives of the workshop were:

  • to give participants an overview of the current situation of the audit profession in Moldova and to highlight the main responsibilities and challenges facing the profession;
  • to brief participants on the major changes to the law on auditing in Moldova, with a particular emphasis on the publication and application of ISAs and the Code of Ethics;
  • to take stock of progress in the implementation of key elements of the EU acquis communautaire relating to Statutory Audit, especially public oversight of audit and quality assurance of statutory auditors; and
  • to review the education requirements for statutory auditors and to highlight the requirements of International Education standards with focus on IES 7 and IES 8.

Staff from the CFRR gave two presentations at the workshop. Andrei Busuioc described the main developments in the regulation of audit at the EU level (the European Commission's proposals for a new directive on statutory audit and for a regulation on the audit of public interest entities), followed by a summary of how Croatia and Macedonia were implementing quality assurance arrangements for statutory auditors. Alex Fawcett then outlined how the the International Education Standards (IES), issued by the International Federation of Accountants, could be applied in practice in reforming the education of auditors. The main conclusion of the workshop was that building effective regulation and education remained one of the main challenges facing corporate financial reporting reform in Moldova.

Conference on "Accounting: current challenges and future aspirations"

Representatives from the CFRR also took place in a conference organized by ACAP RM in cooperation with ASEM on 5 April. The conference discussed current challenges in the regulation of corporate financial reporting in Moldova and possible solutions. Speakers from Moldova, Romania and Belarus and the the CFRR addressed the conference. In particular, Andrei Busuoic from the CFRR discussed how a framework-based approach helped to improve the understanding of International Financial Reporting Standards (IFRS).

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