Members’ Engagement Day

Preparing for the future by sharing intelligence and best practices in the profession was the goal of our Members’ Engagement Day. 50 people and over 70 online participants attended this exclusive, hybrid event for our members and expert group volunteers.

Whether present in Brussels or remotely, our Chairs, Vice-Chairs and members’ representatives had the opportunity to share insights on key topics affecting the profession. We focused on two of our strategic priorities, sustainability and reporting, which are also at the top of the European Commission’s agenda.

The discussions were divided in sessions on the following topics:

• EU policy update
• The CSRD and sustainability information assurance
• EU and international sustainability reporting standards
• EU Audit Reform – EU policy update and our strategy
• EU Audit Reform – Expected main topics of the debate

EU policy update

Keeping their finger on the pulse of Brussels, our experts shared original intelligence on policies around sustainability, reporting, corporate governance, anti-money laundering and more. This panel focused on proposals issued over the summer and their expected developments.

Delighted to have our #hybrid Members’ Engagement Day in #Brussels today. On the agenda:
– #CSRD
– #Sustainability information assurance
– #AuditReform & more
Sharing intelligence and best practices to better serve our members @obt_ACE @EleniKanelli @HildeBlommeACE @Noemi_Counts pic.twitter.com/zSnyFrMTX4

— Accountancy Europe (@AccountancyEU) October 20, 2021

The CSRD and sustainability information assurance

The Chair of our Sustainability Policy Group, Wim Bartels, and the Vice-Chair, Julien Rivals, spoke on how to tackle the practical implications of the CSRD and ensure that assurance services are provided consistently across the EU. To this end, Accountancy Europe is starting a project on sustainability information, which we presented to our members during this session.

#Accountants can assist with tackling practical implications to ensure that #CSRD assurance requirements are provided consistently across EU.” @WimBartels, Chair of our #Sustainability Policy Group, at Members’ Engagement Day @nbacc pic.twitter.com/NeiJuqehGZ

— Accountancy Europe (@AccountancyEU) October 20, 2021

EU and international sustainability reporting standards

Our Deputy President, Mark Vaessen, detailed the background, current state of play and the next steps in developing EU sustainability reporting standards, which include linking the Green Deal and the CSRD. The role of the European Financial Reporting Advisory Group (EFRAG) was highlighted in the discussion.

EU Audit Reform

Our experts shared the latest intelligence gathered from the European Commission and the European Parliament on the upcoming EU Audit Reform. Myles Thompson and Olivier Boutellis-Taft, Accountancy Europe’s President and CEO, discussed how we have been preparing for the reform, including through cooperation with both our member bodies and other stakeholders. They highlighted the importance for the profession to speak with one voice as the debate progresses.

We gave an overview of the expected approach and timing of the EU Audit Reform. To help our members prepare for next steps, we outlined the subject matters we expect the European Commission will focus on.

Reconnecting

We enjoyed seeing some old and familiar faces during our first hybrid members’ event since the start of the COVID-19 pandemic. The in-person participants appreciated the opportunity to network with our team and Board, ending the day’s agenda with a nice cocktail. Their feedback was very positive and we look forward to having our members’ representatives here again!