The financial audit of commercial companies is strengthened - Fino: Challenge, the increase in the number of young professionals
In order to improve the financial reporting of commercial companies in accordance with international standards and good practices, the Ministry of Finance is continuing with the implementation of the Project "Strengthening the Quality of Auditing and Reporting in Albania" (SQARP), with the support of the World Bank (WB). , through funding from SECO, which provides for the improvement of the legal framework, the profession of accountant and statutory auditor as well as the business climate in Albania, with the aim of increasing the quality of financial reporting.
The conference "Challenges and achievements of public oversight in improving the quality of auditing and financial reporting" focused on the impact of oversight and quality assurance control, with the aim of ensuring that statutory audits are conducted in a controlled, transparent and prudent environment that serves the public interest.
"The experience created during these years, as well as the discussions with the objective of improving audit quality, in the international forums of audit regulators reinforce our focus for the future on the realization of quality assurance controls with the aim of reducing quality control findings. , in particular in the audit of economic entities with public interest, and the goal of delegating this process, for non-public interest entities, to the professional organization of legal auditors in the fastest possible period. Meanwhile, one of the challenges, not only local but also international, for which it is intended to provide the necessary support is related to entering the profession. The trend of decreasing demands and the number of young professionals in the market shows, among other things, the need for an increase in awareness of the importance of this profession in the country's economy" , said Dritan Fino, Chairman of the Public Oversight Board.
Also, special attention is paid to the requirements for providing security in sustainability reporting, introduced in the new legal audit law, as a key component of the project, within the further harmonization of the regulatory framework of our country with the Directive of EU audit.
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