iafei e journal
  October 2015
2015 Transition Issue no. 4

45th IAFEI World Congress

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Congress Venues

palazzo mezzanottePalazzo Mezzanotte, the 45th IAFEI World Congress venue, is home of Borsa Italiana S.p.A., responsible for the organization and management of the Italian Stock Exchange.

Palazzo ParigiPalazzo Parigi, a new 5 star hotel in Milan, near the fashion district, Brera and Teatro alla Scala, is the venue for the Cocktail and Gala Event on the evening of the October 14.

expo 2015

The Russian Pavillion in the EXPO 2015 will be the venue for the Presentation of the 46th IAFEI World Congress in Moscow, Russia and the farewell salute.

Key Speakers and Panelists in the Congress



Romano Prodi, a well-renowned economist and former European Commission President and Prime Minister of Italy, will present the dynamics of global economies in the Keynote Address.



James Hogan, the President and CEO of Etihad Airways and Vice Chairman of Alitalia (Australia) will talk on the topic of Global Aviation, building customer loyalty in a global market.



On the topic of Innovating Hospitality, Michael Wale, President of EAME Starwood Hotels & Resorts Inc. (UK) will speak on brands diversification and outstanding services.



Fabrizio Saccomanni, Former Minister of Economy and Finance of Italy will be the speaker on Regulation and Growth.


To talk on how global banking systems are evolving to successfully compete is Marina Natale, the Deputy General Manager of Unicredit Group (Italy)


Adriana Berrocal, Managing Director of BValue Consulting (Mexico) will be one of the discussants in the roundtable discussion on the topic "CLOUD - the No Land Economy."



Aldo Uva, Chief Operating Supply Officer of Ferrero International (Italy), is one of the panelists for the topic Managing Research, how disruptive technologies improve our lives through applied research.


Gerhard Dambach, CEO of Southern Europe Bosch Group and CEO of Italy Robert Bosch S.p.A. (Germany), will talk on reinventing industry and how innovative solutions and services will challenge existing business models and threaten well-established companies.



Valerio Nannini, Senior VP, Head of Strategy and Performance of Nestle (Switzerland), is one of the experts to discuss the evolutions in performance management tools.



Salvatore Rebecchini, Commissioner of the Italian Competition Authority, will talk about free trade and barriers affecting competition in a country and the economic sector.



Navid Chamdia, Head of Real Estate Investments at Qatar Investment Authority (Qatar) is one of the panelists for Capital Markets and Crossborder Investments.


Achieving a Fairer and More Efficient Corporate Tax System within the EU - Five Key Areas for Action

From the International Tax Committee
Contributor: Piergiorgio Valente

On June 17, 2015, the EU Commission released a new Action Plan focusing on ensuring a Fair and Efficient Corporate Taxation System in the EU.

As a result of the various EU efforts, the last few years saw an increased number of significant initiatives towards fairer taxation. Several initiatives, which have been successfully implemented since 2005, are reported herein below:

a) In 2005, the EU pioneers automatic exchange of information for savings income; b) In 2012, the EU releases the first EU Action Plan to counteract Tax Fraud and Tax Evasion; c) In June 2013, the EU opens investigations on tax rulings; d) In December 2014, the EU commits to the widest extension of automatic information exchange on financial accounts; e) In March 2015, the EU transparency package is released, proposing automatic exchange of information on tax rulings; f) In June 2015, the EU releases its Action Plan on Corporate Taxation. read more}


Urgent Questions Concerning Regulation’s Impact on Growth, Innovation: IFAC Global Study

IFAC | 8 September 2015

Regulation has become immensely complex and is impacting organizations’ opportunities to grow and innovate, according to the Global Regulation Survey, a study of accounting, finance, and business professionals conducted by the International Federation of Accountants® (IFAC®).

Approximately two-thirds of respondents said regulation is having a significant or very significant impact on their organizations’ opportunities to grow and innovate. Approximately four in five respondents reported that the regulation impacting their organizations is complex or very complex; that it has become more or much more significant over the past five years; and that it has a substantial impact on their organizations’ cost of doing business. read more}

New G20/OECD Principles of Corporate Governance will promote trust and improve functioning of financial markets

8 September 2015 | As part of continuing efforts to promote market confidence and business integrity, G20 Finance Ministers have endorsed a new set of G20/OECD corporate governance principles.

The G20/OECD Principles of Corporate Governance provide recommendations for national policymakers on shareholder rights, executive remuneration, financial disclosure, the behaviour of institutional investors and how stock markets should function. Sound corporate governance is seen as an essential element for promoting capital-market based financing and unlocking investment, which are keys to boosting long-term economic growth. read more}

Investors Trust Auditors the Most

BY Michael Cohn | Washington, D.C., 17 September 2015

Investors place the greatest trust in independent auditors, according to a new survey by the Center for Audit Quality.

The CAQ’s 2015 Main Street Investor Survey asked 1,012 investors by telephone how much confidence they have in a number of different entities when it comes to effectiveness in looking out for investors’ interests. The investors surveyed expressed the most trust in independent auditors (at a rate of 76 percent), followed by financial advisors and brokers (at 73 percent) and independent audit committees (71 percent). read more}

Changing Times, New Demands on the CFOs

BY Flor G. Tarriela | October 2015

The business environment landscape is fast changing. Whereas previously, events were quite stable and or predictable, now you need to be always prepared for a possible "black swan" outlook as you'll never know what can hit you. Before, work was structured and done at a certain place, now its flexible and its virtual.

Technology is changing the world.

Communications then were either in print, radio or TV. Now its thru the internet, mobile and the web. Previously when a product is bad or service leaves much to be desired, ten people are sure to know it. Now, if its really lousy, it can even go VIRAL and reach millions instantly! In the Philippines alone 50 percent of the population has cell phones. read more}

  What's in this Issue  


  • Congress Venues
  • Key Speakers and Panelists in the Congress


  • Achieving a Fairer and More Efficient Corporate Tax System within the EU - Five Key Areas for Action


  • Urgent Questions Concerning Regulation’s Impact on Growth, Innovation: IFAC Global Study
  • New G20/OECD Principles of Corporate Governance will promote trust and improve functioning of financial markets
  • Investors Trust Auditors the Most
  • Changing Times, New Demands on the CFOs
  International Events of Interest  


13th Annual Retail Banking

Private Banking & Wealth Management

Axiom Groupe Working Capital Management

Financial Crime


Back Office Forum Asia

sson schedule

For more details about events in Europe & Africa, contact Armand Angeli at email address: armand.angeli@orange.fr or telephone no.:
+33 (0)6 0984 39 69.

For events in Asia, contact Hiroaki Endo at email address: akiendo3@gmail.com or telephone no.: +81-3-6758-3851

For events in the Americas, contact Juan Alfredo-Ortega at email address: juan_ortega@mcgraw-hill.com or telephone no.: +52 (55) 5081.4471

IAFEI Secretariat:

Lynn Angeles
Head of Secretariat
+632 728 0315

Abby Buenaventura
Secretariat Assistant

+632 728 0315



IAFEI Secretariat Unit 1003, 10th Floor Cityland Pasong Tamo Tower 2210 Don Chino Roces Ave., Makati City 1231, Philippines
Tel: +632 728 0315| iafeiheadofsecretariat@gmail.com | www.iafei.org