{"id":4766,"date":"2015-06-18T10:58:55","date_gmt":"2015-06-18T08:58:55","guid":{"rendered":"https:\/\/www.fma.gv.at\/en\/?p=4766"},"modified":"2016-06-08T11:00:19","modified_gmt":"2016-06-08T09:00:19","slug":"fma-and-oepr-resolve-open-issues-relating-to-legal-interpretation-and-cooperation","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/fma-and-oepr-resolve-open-issues-relating-to-legal-interpretation-and-cooperation\/","title":{"rendered":"FMA and OePR resolve open issues relating to legal interpretation and cooperation"},"content":{"rendered":"

The mediation proceedings before the Federal Administrative Court (BVwG) resulted in an agreement between the Austrian Financial Market Authority (FMA) and the Austrian Review Panel for Financial Reporting (OePr) on a common understanding of open issues related to the interpretation of the Accounting Control Act (RL-KG; Rechnungslegungs-Kontrollgesetz). All proceedings before the BVwG were closed in mutual agreement with the signing of the protocol. “The two parties have committed themselves to mutual cooperation in reviewing the financial reports of issuers listed on the Vienna Stock Exchange,” the members of the Executive Committee of the Review Panel, Rudolf Jettmar and Roman Rohatschek, emphasised, and FMA Executive Directors Klaus Kumpfmüller and Helmut Ettl reaffirmed the commitment.<\/p>

The core of the common understanding is a clear delineation of responsibilities of the OePR as an independent institution for reviews at the first level, the role of the FMA as authority, and the proceedings to be conducted by the FMA under its sovereign authority at the second level. Unequivocal procedures for mutual exchange of information and for examining the necessary documents were stipulated in order to avoid any redundant activity and to minimise the effort required from companies under review.<\/p>

“This common understanding now reached makes us confident that we have clarified and clearly delineated the responsibilities and areas of individual jurisdiction in detail,” the Review Panel’s directors Jettmar and Rohatschek announced. The FMA Executive Directors Kumpfmüller and Ettl added: “By resolving the open legal issues through constructive discussions we have ensured effective accounting enforcement for the benefit of the Austrian capital market and investors.”<\/p>

Journalists may address further enquiries to:<\/strong>
\nKlaus Grubelnik (FMA Media Spokesperson)
\n+43\/(0)1 \/ 24959-6006
\n+43\/(0)676 \/ 88249516<\/p>\n","protected":false},"excerpt":{"rendered":"

Agreement on a common understanding of open issues<\/p>\n","protected":false},"author":60,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[80],"tags":[],"class_list":["post-4766","post","type-post","status-publish","format-standard","hentry","category-press-release"],"yoast_head":"\nFMA and OePR resolve open issues relating to legal interpretation and cooperation - FMA \u00d6sterreich<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fma.gv.at\/en\/fma-and-oepr-resolve-open-issues-relating-to-legal-interpretation-and-cooperation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FMA and OePR resolve open issues relating to legal interpretation and cooperation - 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