Банкеръ Weekly



The newly-appointed Chairman of the Management Board of the Institute of Certificated Expert Accountants Simeon Milev graduated the University of Economics in Varna in 1976 and three years later became an assistant professor at the same institute of higher education. He lectured there till 1996, defending a thesis meanwhile. Mr. Milev became a certificated expert accountant with the first wave in 1991, and in 1993 together with Anton Svrakov joined the local branch of Deloitte Touche. Last year both of them left it to set up the company Svrakov and Milev OOD. The company's main line of activity, according to pundits, are training courses for auditors and expert accountants. Professional qualification in a big auditing company is extremely useful, Mr. Milev said in front of the BANKER weekly, anticipating the subject of the strained relations between the local auditors and the representatives of the big four in Bulgaria, including PriceWaterhouseCoopers, Deloitte Touche, Ernst Young and KPMG.Mr. Milev, why did you accept to become Chairman of the Institute of Certificated Expert Accountants (ICEA)?- ICEA needs to be pushed forward, even through renewal of its managerial team. I believe this has been accomplished and in this case we should not be speaking about me only. ICEA's Management Board presently includes only two of its former members, which is obligatory in order to ensure continuity. I would like to point out that there are many highly-qualified people in the new managerial team, with whom we find common ground. This became evident at out first meeting on September 4.Don't you feel uneasy about the fact that on September 2 you were appointed by your colleagues in quite a tense atmosphere?- Yes, there was some tension indeed. But in a big institution such as ours there are always various stances. I believe we should unveil ourselves so that the public could understand what the auditing profession is like.But it's a fact that the auditors have already outnumbered the public companies, haven't they?- Certainly, but this does not bother me. Even if their number becomes 1,500, competition will push forward those of higher qualities. Quite many of the auditors can also works as accountants, there are such cases as well.It seems you do not adhere to the idea of restricting the licensing of new auditors.- No, I don't. But the criteria for licensing expert accountants should be heightened. Adequacy is necessary - we should give more knowledge during the training process and require better quality of the audits.We should also improve our contacts with both kindred organisations and the institutions of the executive and legislative power. We very much need lobbying as well. The State needs the services of expert auditors. It's time for our institution to start nominating candidates for MPs. However, this won't be easy. There is such a tradition in Great Britain for example, where expert accountants have been elected to Parliament since 19th century.

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