Week of IFAC events in Tallinn

In 2010 fulfills 20 years of auditing activities in Estonia and this year Estonian Board of Auditors (EBA) celebrates its 10^th anniversary. EBA is a self-governing professional association of Estonian auditors. All our 350 auditors give their best in their day by day work, to ensure the availability of the true and fair financial information for the decision makers. We believe, that on financially challenging times, there is only one matter more important than right decisions making – the existence of the trustworthy information about matters we want to influence with our decisions.

Since 2004 EBA is a full member of International Federation of Accountants (IFAC). IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 157 members and associates in 122 countries and jurisdictions, representing more than 2.5 million accountants.

Recognizing EBA current activities and developments, IFAC decided to hold its Board Meeting this autumn in Tallinn, which brought together 22 Board Members from different continents. IFAC Management together with experts and advisors joined Board Members. Specifically we would emphasize the presence of IFAC President Mr Robert L. Bunting, Vice-President Mr Göran Tidström, CEO Mr Ian Ball and Chairman of the Public Interest Oversight Board Mr Stavros Thomadakis. Our profession’s absolute top leadership visit to Estonia created an unique opportunity to organize high-level international conference, to introduce to the auditors and to our quests latest international trends and to discuss about possible further developments.

Conference „IFAC & EBA – leading the development of the independent accountancy profession serving public interest” (NB! See agenda, speeches and presentations below!) was held on September 9^th in Estonian Concert Hall. Conference official part was followed by EBA Board Reception, which was also Welcome Reception for the IFAC Board (NB! Click link for pictures!) gathering for its September 10^th-11^th Board Meeting. Following Board’s first full working day, EBA had a honor to give a Dinner to the IFAC Board (NB! Click link for pictures!) in Kardioru Palace.

Joint conference, IFAC Board meeting and foreign guests visit to Estonia as a whole, became a high level, productive and inspiring events and earned unanimous appreciation from local community and from foreign quests.

To remember IFAC top management visit into Estonia on this unforgettable day - 09.09.09, all beautiful ladies and all gentlemen in their dark suits hammered copper coins to themselves, as a part of entertainment during the dinner in Kadrioru Palace, to confirm the agreement made in Estonia, according to which the “federation of accountants” got an additional meaning of brotherhood – the “fellowship of auditors”.

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IFAC & EBA joint conference „IFAC & EBA – leading the development of the independent accountancy profession serving public interest”.

Conference agenda (NB! To see speeches and presentations, click on headings links!):

I session – The Accounting Profession & the Public Interest

1. IFAC - Leading in a time of change (IFAC President - R. Bunting)

2. IFACs vision for Estonia (IFAC CEO – I. Ball)

3. The Accounting Profession & the Public Interest - perspectives (PIOB Chairman - S. Thomadakis)

Panel discussion and Q & A was chaired by EBA Chairman T. Vapper

II session - Professional perspectives through the IFAC initiatives

1. IAASB perspective (IAASB Executive Director – J. Sylph)

2. SMP Committee perspective (SMPC Chairperson – S. Voghel)

3. Forum of Firms perspective (TAC Chairman - N. Fraser)

Panel discussion and Q & A was chaired by EBA Board Member V. Hintsov

III session - Professional perspectives in Europe and in Estonia

1. European perspective (FEE CEO O. Boutellis -Taft)

2. Estonian perspective from state point of view (Minister of Finance - J. Ligi)

3. Estonian perspective from profession point of view (EBA Board Member - T. Raimla)

Panel discussion and Q & A was chaired by EBA Vice-Chairman M. Nõmmiste