Seminar with topic: “The quality of financial reporting and its impact on the economy: The role of Public Oversight Board”
On September 10th, 2019, Albanian Securities Exchange participated in the seminar with topic ” The quality of financial reporting and its influence in the economy: The role of Public Oversight Board” from Public Oversight Board (POB).
This seminar has as objective the discussion on the importance of financial reporting quality, its influence in the economy and the role of Public Supervisory Board as an supervisory authority and regulators, also a special attention was dedicated to the information of participants on the activities undertaken from POB during the year 2018, identified findings during the inspection process in this first phase.
During his speech, Mr. Artan Gjergji, the Executive Director of ALSE, highlighted the importance of financial reporting in order to build trust in the capital market operators and notably to the investors which have limitations in the advanced financial knowledge. Moreover, Mr. Gjergji shared with the participants also the opinions and perception of businesses potential for listing on Exchange about the process of legal auditing of financial reports and the issues faced by them regarding the mismatch which comes from the implementation of International Financial Reporting Standards (IFRS) and domestic fiscal legislation. During the seminar was also discussed regarding the importance that have the Public Interest Entities (PIE) and notably companies listed on the stock exchange, for which it was proposed the idea that should be carefully taken in consideration the legal and regulative framework in order to be ready for the starting process of listing on Albanian Securities Exchange.