On September 10, 2019, the Albanian Securities Exchange (ALSE) participated in the seminar entitled “The Quality of Financial Reporting and Its Impact on the Economy: The Role of the Public Oversight Board”, organized by the Public Oversight Board (POB).
The seminar aimed to address the importance of the quality of financial reporting, its impact on the economy, and the role of the Public Oversight Board as a supervisory and regulatory authority. A special session was also dedicated to informing participants about the activities undertaken by the POB during 2018, as well as the findings identified during the inspection process carried out during this initial phase.
In his speech, Mr. Artan Gjergji, Executive Director of the Albanian Securities Exchange (ALSE), emphasized the importance of financial reporting in building confidence among capital market operators, particularly among investors, who may have limited knowledge of complex financial matters. Mr. Gjergji also shared with the participants the views and perceptions of potential businesses considering listing, particularly regarding the statutory audit of their financial statements and the challenges they have encountered concerning discrepancies arising from the application of International Financial Reporting Standards (IFRS) and domestic tax legislation.
The seminar also addressed the importance of Public Interest Entities (PIEs), particularly companies listed on the stock exchange. It was suggested that the legal and regulatory framework in this area should be carefully reviewed and further developed to ensure readiness for the commencement of listings on the Albanian Securities Exchange (ALSE).
