FBK at Ninth December Debates International Conference

The Conference has been held under the auspices of the Lomonosov MSU Faculty of Law and Faculty of Economics together with the Financial University under the Government of the Russian Federation, supported by FBK and the Self-Regulatory Organization of Auditors Association "Sodruzhestvo" (SRO AAS).

This year's Conference focused on the topic ‘Windows of Opportunity and Risks of Adapting Audit and Corporate Governance’. The first part of the event was marked by the Sheremet Debates, where the experts discussed the hottest topics related to conceptual approaches to auditing development, improvement of state financial control and budget monitoring, use of new technologies in auditing, IFRS standards on sustainability reporting, etc.

The second part of the Debates was held as a round table and focused on the most pressing topics in corporate governance, control, compliance and audit. The attending practising speakers and members of the scientific community made joint effort to answer the questions faced by the audit business in the current altered business environment.

Irina Konstantinova, Senior Manager at FBK, who spoke at the round table about current issues of financial institutions in terms of internal audit and potential improvement areas, noted, 

"This year, as in the previous years, the Conference took on a creative format and demonstrated a forward-looking perspective on the problems of internal and external audit in Russia. Credit institutions have room for potential improvement in terms of compliance with the external quality control requirements applicable to internal audit, and it may instigate regulatory supervision or regulation in the near future".

"December Debates became a kind of a ‘boiling point’ that gives birth to new ideas through discussions and debates, and MSU became a platform where academic and business communities push the boundaries of conventional approaches in both science and business,” commented Angelika Terekhova, PhD, MICA, initiator of the Debates project, MSU.