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2017 CFRR-IFAC Regional SMP Forum

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IFAC and the World Bank Centre for Financial Reporting Reform hosted a joint Regional Small- and Medium-sized Practices (SMP) Forum for Europe and Central Asia on May 31 in Vienna, Austria.
The Forum provided the opportunity to discuss addressing the challenges and opportunities SMPs and medium-sized entities (SMEs) face. This is a presentation by Ardiana Bunjaku, Executive Director, Society of Certified Accountants and Auditors of Kosovo.

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2017 CFRR-IFAC Regional SMP Forum

  1. 1. ______________________________________________________________________________________________________________________________________________________ CFRR – IFAC Regional SMP Forum______________________________________________________________________________________________________________________________________________________ ARDIANA BUNJAKU Executive Director May 31, 2017, Vienna, Austria Society of Certified Accountants and Auditors of Kosovo
  2. 2. New country – new profession • SCAAK established 2001, aimed to implement and promote global standards and best practices for the new profession: assisting economic development and concept of independent self-regulating group of professionals working in the public interest • Associate member of IFAC 2003 • Twinning agreement with Royal NIVRA 2007 • Full member of FCM 2006 • Full member of IFAC 2009 • Full member of EFAA 2016 Slide 2
  3. 3. New country – new profession • Introduction of principles based approach to accounting • Adoption of SMOs within the statute of SCAAK • Adoption of standards and guidance that SCAAK does not have regulatory responsibility (IAS/IFRS, ISA) Slide 3
  4. 4. Challenges • Change of mentality • Impact of informal economy • Independence – familiarity threat “everyone knows everyone” • Insufficient emphasis on ethics related courses by universities Slide 4
  5. 5. Ethical challenges - examples • Undue pressure on auditors • Lack of strong regulator to implement legal requirements Slide 5
  6. 6. SCAAK’s response • Public interest – first • Governance structure in place • Cooperation with stakeholders – Increasing awareness – member of chambers of commerce – Curriculum development for universities (3 public / 2 private) – Advisor to tax administration director – Member of the Business Committee Office established by the President of Assembly of Kosovo Slide 6
  7. 7. Thank you The strongest effort by SCAAK is continuous promoting professional ethics Slide 7

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