Macedonian Country Action Plan.

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Presentation transcript:

Macedonian Country Action Plan

Introduction Sean Sweeney - HELM William Buckley - HELM

Terms of Reference To facilitate & support development of Country Action Plan for Macedonia To address the findings & recommendations of the ROSC (Report on Observation of Standards & Codes) – Audit & Accounting To support Macedonia’s EU accession strategy

Strategic Context Financial architecture and reducing risk; Foreign direct and portfolio investment; Mobilise domestic savings; Smaller-scale corporate borrowers; Taxes on corporate profits; Informed investment decisions; and Integration into global capital markets

Background Acquis Communautaire – Chapter 5 Looming Acquis – New 8th Directive New international financial architecture – restoring public & investor confidence

Developing a Plan Establish a representative steering group: MoF National Bank Regulators – SEC Profession – Audit & Accounting Academia Corporate/Commercial Sector Others – Central Registry, PRO, etc.

Steps (previous CAPs) Situation analysis – Update ROSC Discussion Papers – Acquis requirements & other EU models GAP analysis & option appraisal Agree approaches & consultation Draft plan & stakeholder approval Gov’t endorsement Funding strategy