RISK MANAGEMENT AND INTERNAL CONTROL IN THE EU

25 October 2005, 10:30-00:00 Royal Windsor Hotel, Brussels View on Google Maps

 

As the European Union seeks to reform aspects of its regulation of corporate governance and company law, the spotlight has fallen on the issue of company reporting on risk management and internal control.

FEE, the representative organisation for the accountancy profession in Europe, believes a robust debate with a wide range of stakeholders is required to ensure that Europe’s approach to risk management and internal control builds on best practice and is based on evidence that the benefits to companies, shareholders and the public interest will exceed the costs involved.

The Forum, held in Brussels, on 25 October 2005, considered practical issues involved in the implementation of internal control and risk management requirements in Europe, as well as analysis of reforms recently implemented in France, the Netherlands, Sweden, UK and the US.

Speakers included:
• Alexander Schaub, Director General, European Commission, DG Internal Market
• Jaap Winter, Partner, De Brauw Blackstone Westbroek and Member of the European Corporate Governance Forum
• Douglas Flint, Chairman of the Turnbull Review Group and Group Finance Director, HSBC Holdings plc
• Andrew D. Bailey, Jr. Deputy Chief Accountant, U.S. Securities and Exchange Commission

The Forum was organised as a response to the interest generated by FEE’s March 2005 publication Discussion Paper on Risk Management and Internal Control in the EU. The publication provides a review of best practice amongst companies, a review of recent regulatory developments in the EU and US and a survey of regulatory requirements on risk management and internal control in EU member states.

For more information about the event please contact Hilde Blomme, FEE Director of Practice Regulation (hilde.blomme@fee.be).

Related files:
document pdf text FRC Internal Control Revised Guidance for Directors on the Combined Code (Turnbull Guidance)
document pdf text Minutes FEE Forum on Risk Management and Internal Control in the EU
document powerpoint Presentation of Anders Malmeby, Swedish Working Group on Internal Control, Partner and Head of Audit at KPMG Sweden
document powerpoint Presentation of Andrew D. Bailey, Jr., Deputy Chief Accountant, U.S. Securities and Exchange Commission
document powerpoint Presentation of Arnold Gratama van Andel, Corporate Vice-President Finance and Economics, DSM NV
document powerpoint Presentation of Douglas Flint, Chairman Turnbull Review Group and Group Finance Director, HSBC Holdings plc
document powerpoint Presentation of Jean-Paul Servais, Vice-Chairman, Financial Regulator Belgium (CBFA)
document pdf text Presentation of John Ripley, Deputy CFO Unilever plc
document powerpoint Presentation of Patrice Marteau, Chief Corporate Officer, Pinault-Printemps-Redoute
document powerpoint Presentation of Philip Ashton, IAASB member
document powerpoint Presentation of Robert Hodgkinson, ICAEW Executive Director, Technical and Chairman FEE Working Group on Internal Control
document powerpoint Presentation of Robert Hodgkinson, ICAEW Executive Director, Technical and Chairman FEE Working Group on Internal Control (2)
document pdf text Programme FEE Forum on Risk Management and Internal Control in the EU
document pdf text Speech of Alexander Schaub, Director General, DG Internal Market and Services, European Commission
document pdf text Swedish Guidance on Internal Control

 

Program

  • Introduction by Conference Chairman

    David Devlin, FEE President

  • Keynote speech: Proposed EC Fourth and Seventh Directives

    Alexander Schaub, Director General, European Commission, DG Internal Market FEE’s classification of alternative approaches and how some EU Member States have introduced requirements related to internal control and risk management Robert Hodgkinson, ICAEW Executive Director, Technical and Chairman, FEE Working Group on Internal Control

  • Where is the demand for internal control and risk management reporting coming from?

    Panel Chairman: Andrew Popham, FEE Vice-President, Chairman, FEE Auditing Working Party and Partner at PricewaterhouseCoopers UK Regulators: Jean-Paul Servais, Vice-Chairman, Financial Regulator Belgium (CBFA) Investors: Rüdiger von Rosen, Managing Member of the Board, Deutsches Aktien Institut Analysts: George Dallas, Managing Director and Global Practice Leader, Governance Services, Standard & Poors

  • Questions and Answers

  • Practical implications of US requirements to report on internal control

    The SEC’s Round Table on Implementation of Internal Control Reporting Provisions Andrew D. Bailey, Jr., Deputy Chief Accountant, U.S. Securities and Exchange Commission Applying Section 404 of the Sarbanes-Oxley Act in practice John Ripley, Deputy CFO Unilever plc

  • Questions and Answers

  • Lunch Buffet

  • Developments in certain European Union Member States focused on:

    • Regulatory background to requirements • Practical implementation of requirements • Assurance implications of developments Panel Chairman: Jaap Winter, Partner De Brauw Blackstone Westbroek and Member of the European Corporate Governance Forum France: Patrice Marteau, Chief Corporate Officer, Pinault-Printemps-Redoute The Netherlands: Arnold Gratama van Andel, Corporate Vice-President Finance and Economics, DSM NV Sweden: Anders Malmeby, Swedish Working Group on Internal Control, Partner and Head of Audit at KPMG Sweden UK: Douglas Flint, Chairman Turnbull Review Group and Group Finance Director, HSBC Holdings plc

  • IAASB proposed project on internal control

    Philip Ashton, IAASB member

  • Analysis of Responses to FEE Discussion Paper on Risk Management and Internal Control in the EU

    Robert Hodgkinson, ICAEW Executive Director, Technical and Chairman, FEE Working Group on Internal Control

  • Questions and Answers

  • Wrap-up session

    Conference Chairman

  • End of Conference

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