European Federation of Accountants Fdration des Experts Comptables Europens

1
About FEE

• European Federation of AccountantsFédération des
  Experts Comptables Européens

2
FEEEuropean Federation of Accountants

• Standing for the accountancy profession in Europe
• Grouping 44 Member Bodies from 32 countries
• Representing a combined membership of over
  500.000 accountants
• 45 in public practice
• 55 in industry, commerce, government and
  education

3
FEE Working for its 44 Members
cvc
4
FEE Objectives

• Advancing the interests of the European
  Accountancy Profession recognising the public
  interest
• Fostering a harmonised and liberalised regulation
  and practice of accountancy and audit in Europe
• Promoting co-operation among Members
• Identifying public policy developments and
  influencing outcome
• Making representation to the EU institutions and
  to international organisations

5
FEE History

• Created in 1987 through the merger of
• UEC (Union des Experts-comptables, economiques et
  financiers) created in 1949, and
• Groupe detudes des Experts-comptables de la
  Commumaute europeenne created in 1959
• No standard setting
• Emphasis on EU matters

6
FEE Output - 2006

• Papers
• Financial Reporting Convergence, Equivalence and
  Mutual Recognition
• Analysis of Responses to the FEE Discussion Paper
  on Risk Management and Internal Control in the EU
• Analysis of Responses to FEE Discussion Paper
  Comfort Letters Issued in relation to Financial
  Information in a Prospectus
• Key Issues in Sustainability Assurance An
  Overview
• FEE Observations on European Court of Justice
  decided case C 446/03 v Her Majestys Inspector
  of Taxes
• The New Public Management A Perspective for
  Finance Practitioners
• Plus
• 5 major events and 34 other publications
  including Surveys, Statements, Comment Letters,
  Briefing Notes, Fact Sheets, Newsletters, Alerts,
  Annual Report

7
FEE 2007-2008 Priorities (1)

• Implementation of Statutory Audit Directive
• Consistency of implementation
• Oversight arrangements coordination and
  cost/benefit
• Auditors liability
• IFRS
• Implementation and consistent application
• Convergence USA and others

8
FEE 2007-2008 Priorities (2)

• Small and Medium Sized Entities (SMEs)
• Small and Medium Sized Practitioners (SMPs)
• Network definition
• IFRS for SMEs
• Sustainability reporting and assurance

9
FEE 2007-2008 Priorities (3)

• Internal Market
• Professional qualifications and other regulations
  
• Competition and choice
• Corporate Governance and Company Law
• Public policy issues of potential interest to /
  impact on the profession
• Fraud, money laundering, pensions liabilities

10
FEE Governance

• General Assembly
• All Member Bodies
• Constitutional matters

• Council
• 1 Representative / Country
• ( technical advisor)
• Strategic political decisions

Elects
Appoints
Executive President Deputy Vice-Presidents
(incl. Treasurer) CEO Implementation of
Councils decisions
Prepares positions
Appoints
Working Parties
Reports
11
FEE General Assembly

• Approves levels of expenditure
• Elects President and Deputy President for a
  two-year term
• Decides on constitutional matters, membership or
  issues referred to it by Council
• Appoints the auditor

• All Member Bodies
• Meeting every two years in December
• Voting rights fixed by FEE Statutes

12
FEE Council

• Manages FEE
• Formulates FEE positions (may delegate
  implementation)
• Appoints Vice-Presidents
• Makes recommendations on constitutional matters,
  membership and expenditure
• Decides Working Parties and Internal Rules
• Approves positions and all documents (written
  procedure possible)

• One representative per country
• Four meetings per year
• Simple majority in principle consensus in
  practice

13
FEE Executive

• Implements Council decision and acts upon
  Councils delegations day-to-day management
• Decides staff recruitment (incl. CEO),
  acquisitions of capital goods, events
• Prepares Councils agenda, budget and accounts
• Annual action plan

• Elected members
• President and Deputy President (by GA)
• Vice-Presidents (by Council)
• Statutory member CEO
• Ten meetings a year

14
FEE President

• Chairs General Assembly, Council, Executive
• Commits the Association in financial matters
• Sign all contracts
• May delegate

• Elected by the GA for a two-year term
• Represents the Association

15
FEE CEO and Secretary General

• Responsible for
• day-to-day administrative and operational
  management
• developing, promoting and managing FEE
• Contributes to the strategy set by Council
• Provides advice and support to the President,
  Council and the General Assembly - under
  authority of Council
• Represents the Association in legal matters and
  vis-à-vis third parties - powers in financial
  matters as delegated by President
• Council may appoint Secretary to complement and
  deputise for the Chief Executive

16
FEE Team
Henri Olivier Secretary General
Hilde Blomme Director of Practice
Regulation
Saskia Slomp Technical Director
Olivier Boutellis-Taft CEO
Catherine Ameye Project Manager
Corinne Soubies Senior Project Manager
Chiara Pisano Project Manager
Michael Sotiriou Communications Manager
Support Team From left Loraine Diamond, Sabine
Leurart, Liese-Lotte Billiet, Elizabeth Fox,
Sylvie Romancide, Mélanie Herfurth
17
FEE Working Parties
Accounting
Auditing
Banks/ Insurance
Capital Markets
Direct Taxation
Ethics
Indirect Taxation
Liberalisation/ Qualification
Public Sector
SMEs / SMPs
Sustainability
18
FEE Working Parties

• No standing committee
• Council decides creation, Chair, dissolution and
  terms of reference
• Primary responsibility to prepare Council
  decisions
• Possibility to establish subgroups
• Open to all Member Bodies

19
FEEs Way of Working

• 2 year action plans // Presidency term of office
• Regular meetings (usually in Brussels)
• Resources
• Skilled and experienced in the specialist area
• Available and committed, ready to engage with
  staff
• Balance in territories, experience and gender
• Official languages English and French, but
  working language usually English
• Transparency essential to Council and Institutes
  
• Website
• Extranet

20
Visit us at FEE
Avenue DAuderghem 22-28
Tel [phone] Brussels
www.fee.be Fax [phone]
12 Belgium Email secretariat_at_fee.be