Fédération des Experts Comptables Méditerranéens

EU Legislative Interests

The FCM has focused its recent interest representation activities on EU initiatives that significantly impact the accounting profession and financial transparency within the Mediterranean region. These activities include consultation responses, technical meetings, event organisation, and public positioning. Key EU legislative proposals and policies targeted include: Directive 2022/2464/EU on Corporate Sustainability Reporting (CSRD): FCM has supported the implementation of high-quality sustainability reporting standards and contributed to discussions regarding their regional implications and adoption by small and medium-sized practices. Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA): FCM has monitored the regulatory framework for digital finance and its effects on accounting practices and audit procedures across the Mediterranean region. EU Green Deal and related taxonomy regulations, including the Sustainable Finance Disclosure Regulation (SFDR) and the EU Taxonomy Regulation: FCM promotes the role of accountants in ESG reporting and assurance services, ensuring Mediterranean views are represented in these transformative EU policies. Directive (EU) 2019/1023 on Preventive Restructuring Frameworks: FCM has addressed the implications of insolvency and restructuring legislation on financial reporting practices, particularly in economically sensitive parts of the region. Proposal for a Directive on Business in Europe: Framework for Income Taxation (BEFIT): FCM is closely following tax harmonisation developments and analysing their potential impact on SMEs and national accountancy bodies in the Mediterranean. Revision of the EU Anti-Money Laundering framework, including the proposal for a Regulation establishing the European Anti-Money Laundering Authority (AMLA): FCM highlights the relevance of professional accountants in implementing AML measures and ensuring compliance. Digitalisation of company law and e-governance initiatives, including the proposal for a Directive amending Directive (EU) 2017/1132 regarding the use of digital tools and processes in company law: FCM supports greater harmonisation and digital transformation for accountants and statutory auditors. Proposal for a Regulation on the establishment of the Single Market Emergency Instrument (SMEI): FCM has taken part in technical discussions on risk preparedness and its implications for financial continuity and reporting. In addition to these specific initiatives, FCM follows cross-cutting policies linked to professional qualification recognition, SME financing, access to EU recovery funds, and digital and green transitions. It contributes to policy dialogue through its members, regional events, and joint initiatives with IFAC, ACCA, and other stakeholders.

Communication Activities

In the recent times, the FCM has not established formal or direct contacts with EU institutions in relation to the legislative initiatives listed in previous field. However, this registration in the Transparency Register reflects a clear intention to do so in a structured and transparent manner, in line with its strategic priorities and governance plan to 2025. The FCM plans to initiate institutional communication and engagement activities with relevant EU bodies, namely the European Commission (especially DG FISMA, DG GROW and DG TAXUD), the European Parliament (notably committees on ECON and JURI), and EU agencies such as EFRAG and the future Anti-Money Laundering Authority (AMLA). The Federation's main communication objectives are: To contribute Mediterranean perspectives to EU legislative developments in sustainability reporting, tax harmonisation, SME policy, digitalisation of financial reporting and AML frameworks; To present the collective voice of Mediterranean accountancy bodies on implementation challenges and technical issues, particularly for small and medium-sized practices; To promote regional cooperation and highlight local initiatives that align with the objectives of EU legislation, including capacity building for digital and green transitions. The FCM intends to establish institutional contact through: Position papers and thematic statements submitted in the context of public consultations; Requests for meetings with relevant Commission units and Parliamentary committees; Participation in public hearings, stakeholder forums and expert group invitations; Contributions to joint events and technical webinars in cooperation with IFAC, ACCA, EFAA and other relevant bodies; The organisation of its own public events and conferences, which will be used as platforms to invite and engage with EU representatives. Planned communication tools also include a quarterly digital newsletter, published studies on regional trends, and the launch of a Mediterranean Accountancy Observatory, which will gather insights on the impact of EU legislation in the region. Through this communication strategy, FCM aims to promote proactive and constructive dialogue with EU institutions, enhancing the visibility of the Mediterranean accountancy profession and contributing to evidence-based policy development aligned with public interest.

Interests Represented

Promotes their own interests or the collective interests of their members

Member Of

IFAC

Organisation Members

https://www.fcmweb.org/members/