On April 29th, at the Faculty of Business Administration, the Master’s Degree in Financial and Tax Management, in collaboration with the Faculty of Business Administration and the UPV SIRVE Strategic Plan, organized the conference “Update on the activity of the ICAC” given by Santiago Durán, president of the ICAC. The ICAC is the public body that regulates accounting, auditing and supervises auditors in Spain.
The conference addressed the different functions of the ICAC, current affairs in the auditing sector, the ICAC’s supervisory activity over the last two years, current issues (the use of artificial intelligence in auditing and the entry of investment funds into auditing firms) and regulatory developments, as well as various new developments in auditing (ISA 570, ISA 240) and accounting (draft amendments to IAS 28 and IAS 37 of the IASB),post implementation review of IFRS 16 and IFRS 18) and in sustainability information, both international (Omnibus, NEIS simplification, VSME Standard) and national (transposition of the Directive, ICAC-CNMV Note, Register of verifiers and sustainable finance council).
The conference was followed by the Master students and other FADE students, mainly by ADE students from the Financial Services and Consultancy intensification, as well as auditors and professionals from auditing firms, all of whom generated an interesting round of questions.