Over 70 participants from 33 organisations attended APSF 2014 in Warsaw on 7–8 May, organised by ICAEW, in cooperation with the National Chamber of Statutory Auditors (KIBR) and the Accountants Association in Poland (SKwP). PAOs from the CEE, Baltic states and Southern Europe were joined for the annual meeting by guest participants from Sweden, France, IFAC, FEE, the European Commission and the World Bank, as well as by a number of oversight authorities and representatives of Polish business.
From the outset, one of the key aims of the APSF has been to discuss the major challenges faced by PAOs which impact on their sustainability and continuing relevance. At the Warsaw meeting, the main emphasis was to encourage greater focus on the steps which PAOs can take to overcome these challenges.
The meeting was particularly designed to scope out areas where new models and approaches can be developed by APSF participants working in smaller groups, with support from ICAEW.
The EU audit reform merited particular attention at APSF 2014, given its impact on the profession and the market. The event was a valuable opportunity to exchange views with the European Commission on the legislation which had just been recently finalised.