FEE issues policy statement on current economic difficulties
The Federation of European Accountants (Fédération des Experts comptables Européens, FEE), has released a policy statement entitled 'Professional Accountants' Contribution in the Current Economic Difficulties: Enhancing Transparency and Confidence'.
FEE, an international non-profit organisation based in Brussels that represents 45 institutes of professional accountants and auditors from 33 European countries, believes that the European accountancy profession needs to play a key role in the current European crisis by contributing to the transparency and reliability of financial and non-financial information, therefore enabling better decision-making and contributing to restoring public and financial market confidence.
The policy statement contains a high-level summary of issues that preparers, auditors and public sector entities may wish to consider in the current economic circumstances. These include such things as the measurement of assets, impairment of financial and non-financial assets, going concern considerations, disclosures, areas of particular audit attention, and public sector governance.
Click for FEE press release (link to FEE website).