Porto/London. Members of the Fédération des Experts Comptables Méditerranéens (FCM) and the Comité de Integración Latino Europa-América (CILEA) held a conference in Porto last week hosted by the Ordem dos Contabilistas Certificados (OCC), Portugal’s professional accountancy body, which saw representatives of both regions signed cooperation agreements and set a common strategic agenda.

On 8 April FCM, CILEA and OCC organised a conference that focused on the role of SMEs and SMPs as a driver for economic growth within their respective countries.

A separate discussion moderated by Philippe Arraou, FCM vice-president and head of the French profession, addressed public sector accounting and public financial management, with panellist from the World Bank, ACCA and the IPSAS Board.

On 9 April FCM and CILEA, the latter headed by OCC president António Domingues Azevedo, held their respective board meetings where the strategy for the next year was mapped out.

FCM admitted a new member to the federation, the Tunisian professional body Compagnie des Comptables de Tunisie (CCT).

In addition, during the course of the conference, two Memoranda of Understanding (MoU) were signed between France’s Ordre des Experts-Comptables (OEC) and the professional bodies of Albania and Peru.

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Arraou, president of the French body, and Hysen Çela, president of the Institute of Authorized Chartered Auditors of Albania, signed a MoU whereby members of the Albanian body will have free access to a technical and training tool for the audit of SMEs.

The tool has been developed by the French institute of auditors, the Compagnie Nationale des Commissaires aux Comptes.

France’s OEC also signed a cooperation agreement with Luis Enrique Alemán Solsol, from Peru’s Junta de Decanos de Colegios de Contadores Públicos.

Delegates of the European Federation of Accountants and Auditors for SMEs (EFAA) and Morocco’s professional body, the Ordre des Experts Comptables du Maroc, also attended the conference in Porto.

The Accountant understands that the Moroccan professional body could apply for the EFAA membership soon.

Update/correction: This news story has been modified on 15 April to clarify the following statement: "The applications of two professional bodies from Romania and Bulgaria are still pending".

The Institute of Certified Public Accountants of Bulgaria and the Corpul Expertilor Contabili si Contabililor Autorizati din Romania withdrew from FCM membership time ago.

As such there are no formal applications pending approval from the FCM board, although the federation hopes the bodies will re-join soon.