José Rodrigues de Jesus was sworn in today as the new President of the Order of Statutory Auditors (OROC) for the 2018–2020 three-year period. The Minister of Finance highlighted the important role of auditors in ensuring confidence in the economy and the credibility of companies.
Lisbon, January 5, 2018 – The mission of Certified Public Accountants (CPAs) lies in strengthening market confidence and contributing to the public interest. This was the central message conveyed in the speeches delivered during the inauguration ceremony for the new OROC governing bodies for the 2018–2020 term. The ceremony, which took place today in Lisbon, was attended by Finance Minister Mário Centeno.
In his speech, the Minister of Finance emphasized the “a very important role” that the profession of Certified Public Accountant will continue to play an important role in economic and social terms, and it is impossible to imagine how the economy could function “without a professional class to carry out financial auditing”. Assuming that, in Portugal, “The severity of the financial crisis has shaken market confidence”, the work of the Reviewers “It has been essential for boosting confidence in economies and for strengthening the credibility of companies”, namely “elements essential to economic growth, investment, and the development of financial instrument markets.”.
The contribution of the ROC’s activities to the public interest is echoed by José Rodrigues de Jesus, the new President of the OROC, who outlines a framework for “market hypersensitivity, sophisticated trading practices, dematerialization and digitization, technological innovation in processes, and new models of modern management” which requires “Highly qualified professionals whose knowledge is constantly updated, backed by impeccable standards and models” in pursuit of the “the profession’s path toward social utility”. Where “a “The credibility of financial information is a social good of unquestionable necessity.", OROC is committed to investing in the improvement of auditing practices by sharing “this effort involving all parties responsible for the quality of financial information”.
The action plan established for OROC for the three-year period now beginning comprises four complementary areas: the promotion of an open and collaborative dialogue with public entities and regulatory and supervisory authorities, with a view to strengthening its position as a partner in a transparent market; the development of mechanisms that provide greater social and economic recognition of the profession in order to attract more young people with additional and better skills; the maintenance of a framework for continuous improvement the quality of the services provided, as a guarantee of credibility with companies, public entities, regulators, and others, in the public interest; and the expansion of professional training, so that the regulatory, technical, and ethical aspects of the activity are taken into account and the rapid pace of technological change is incorporated.