{"id":7445,"date":"2015-06-06T10:00:11","date_gmt":"2015-06-06T10:00:11","guid":{"rendered":"https:\/\/dev.say-u.com\/?p=7445"},"modified":"2023-06-06T11:10:50","modified_gmt":"2023-06-06T10:10:50","slug":"reviewers-point-out-20-consequences-of-the-bills-passage","status":"publish","type":"post","link":"https:\/\/say-u.pt\/en\/revisores-apontam-20-consequencias-da-aprovacao-da-proposta-de-lei\/","title":{"rendered":"Reviewers point out 20 consequences of the bill's approval"},"content":{"rendered":"<p><strong>With a view to safeguarding the public interest and the trust of the <em>stakeholders<\/em> and investors in the financial information disclosed by companies, the Portuguese Institute of Certified Public Accountants warns of the consequences of passing the bill to transpose the Audit Directive.<\/strong><strong><br \/>\n<\/strong><\/p>\n<p><strong><a href=\"https:\/\/say-u.pt\/wp-content\/uploads\/2015\/06\/Logo_OROC.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-7448 size-medium\" src=\"https:\/\/say-u.pt\/wp-content\/uploads\/2015\/06\/Logo_OROC-300x116.jpg\" alt=\"Logo_OROC Information\" width=\"300\" height=\"116\" \/><\/a>Lisbon, June 16, 2015 \u2013<\/strong> Having neither been asked to participate nor invited to the discussion on the bill to transpose the Audit Directive, which was approved in principle by the Assembly of the Republic, the Portuguese Institute of Certified Public Accountants (OROC) points to a loss of control\u2014despite having long advocated for greater rigor, transparency, and accuracy in financial statements\u2014as the main implication of its implementation, as it has come to public attention.<\/p>\n<p>According to Jos\u00e9 Azevedo Rodrigues, President of the<a href=\"https:\/\/www.oroc.pt\/\"> OROC<\/a>, <strong><em>\u201cAuditing did not come about as a result of legal requirements. It arose from the demands of users of financial information: shareholders, investors, and lenders. Auditing becomes mandated by law when governments recognize its contribution to the transparency of entities\u201d financial information. This bill undermines the role of auditors in safeguarding the public interest.\u201d.<\/em><\/strong><\/p>\n<p>Market concentration, the lack of independence of the Supervisor, the near-certain decline of small audit firms, and the profession\u2019s inability to attract young people will be just a few of the twenty consequences outlined by OROC.<\/p>\n<p>A more detailed explanation of OROC's position is available <a href=\"https:\/\/say-u.pt\/wp-content\/uploads\/2015\/06\/aqui2.pdf\">here<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Com vista \u00e0 salvaguarda do interesse p\u00fablico e \u00e0 confian\u00e7a dos stakeholders e investidores na informa\u00e7\u00e3o financeira divulgada pelas empresas, a Ordem dos Revisores Oficiais de Contas alerta para as consequ\u00eancias da aprova\u00e7\u00e3o da Proposta de Lei de transposi\u00e7\u00e3o da Directiva de Auditoria. Lisboa, 16 junho 2015 \u2013 N\u00e3o tendo sido solicitada a participa\u00e7\u00e3o ou [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[70],"tags":[234,163,164],"class_list":["post-7445","post","type-post","status-publish","format-standard","has-post-thumbnail","category-o-que-comunicamos","tag-auditoria","tag-oroc","tag-revisores"],"acf":[],"_links":{"self":[{"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/posts\/7445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/comments?post=7445"}],"version-history":[{"count":3,"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/posts\/7445\/revisions"}],"predecessor-version":[{"id":987494977,"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/posts\/7445\/revisions\/987494977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/media\/7440"}],"wp:attachment":[{"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/media?parent=7445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/categories?post=7445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/say-u.pt\/en\/wp-json\/wp\/v2\/tags?post=7445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}