ecoDa a.s.b.l - The European Confederation of Directors Associations

🎤 ILA Directors' Day 2024 has kicked off! We are happy to welcome over 400 participants for a full day of insightful sessions at the Hémicycle of the European Convention Center Luxembourg (ECCL), under the conduction of our Master of Ceremony Katia Ciesielska. The conference starts with a bang with the keynote speech by Fran Marwood on 𝗙𝗿𝗮𝘂𝗱 𝗥𝗶𝘀𝗸 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁. During times of financial distress, the incentives, opportunities and rationalisation for #fraud are heightened. To mitigate and manage fraud risks, organisations need a clear #FRM strategy across fraud identification, prevention, detection and response that includes continual improvement and leverages the latest technology innovations. As a Director, you should inquire whether your organisation has the right procedures in place to manage its specific risk. #DirectorsDay2024

Today we kicked off the winter edition of our European Board Diploma! We welcomed 24 participants across Europe in this new edition, where they will delve into the diverse landscape of Corporate Governance at the European level and engage in interactive and hands-on sessions. A special thank you to our moderator Dr. Roger Barker, from the UK Institute of Directors (IoD), and the rest of the speakers who will join us in this edition. We are so glad to be hosting the third edition of our program this year. If you are interested in joining us at our next edition, reach out to us! #EBD #EuropeanBoardDiploma #CorporateGovernance #BoardMembers

As the European Green Deal moves into the implementation phase, businesses, particularly those with global supply chains, face growing complexity and uncertainty. The flagship Corporate Sustainability Due Diligence Directive (CS3D) raises some concerns. ecoDa a.s.b.l - The European Confederation of Directors Associations, and 26 other associations, including BusinessEurope, published a joint statement.  📢 Key Calls for Action : 🔈 Competitiveness Assessment: Businesses urge the EU to assess the impact of CS3D and simplify burdens, especially for SMEs. Early engagement with the industry is crucial to develop practical, manageable rules. 🔈 Timely Guidance: Companies need at least two years to prepare for compliance. Delays in delivering clea andr, authoritative guidance will hinder investment in sustainability and innovation. 🔈 Harmonization: Consistency across EU Member States is essential. Fragmentation will create regulatory burdens, diminishing Europe's competitiveness in the global market. The European Commission must prioritize simplicity, clarity, and collaboration to ensure the Green Deal’s success without stifling business growth or innovation. ▶ See the statement: https://lnkd.in/eBGiU7my

🎯 New release: Cybersecurity Risk Handbook We’re excited to announce that ecoDa a.s.b.l - The European Confederation of Directors Associations and the Internet Security Alliance have updated their Cyber-Risk Oversight Handbook, which was first released in 2020. This update is essential to address the fast-evolving world of cybersecurity, new regulations and emerging roles and responsibilities for boards. 🔁 What’s new? The new edition reflects the latest in cybersecurity legislation, including the EU Directive 2022/2555 (NIS2), which has replaced the older EU Directive 2016/1148 (NIS1). This directive aims to boost cybersecurity frameworks across the EU, ensuring better awareness and resilience against cyber threats. 🏢 Who is it for? The Handbook is designed specifically for European corporate boards. It’s a valuable resource to help board members understand and manage cyber risks from a broad and enterprise-wide perspective. 📘 Key features: Six Principles: The Handbook lays out six core Principles to guide boards in their understanding and oversight of cyber risk. Have a look here: https://lnkd.in/dnAHBpjK Toolkits: To dive deeper into these Principles, the Handbook includes detailed Toolkits. These practical resources offer step-by-step guidance and actionable insights, making it easier for boards to implement effective cybersecurity strategies. Have a look here: https://lnkd.in/dq2etYJ6 🔎 Why it matters: In today’s digital world, cybersecurity is more important than ever. Board members play a key role in ensuring their organizations are protected against cyber threats. This updated Handbook is an essential tool to help boards stay informed and proactive in their cyber risk management. #CyberSecurity #CorporateGovernance #CyberRisk #BoardLeadership #NIS2

Last week, we hosted the module on Climate and Sustainability Issues of our European Board Diploma Fall edition, organized in collaboration with Chapter Zero Brussels. Tom Dodd from the European Commission's DG FISMA emphasized the purpose of the CSRD directive, which aims to ensure financial stability, reduce risks for investors and enable investors to understand the impacts of their investments. The European Commission seeks to prevent over-implementation of the rules, viewing sustainability reporting as a way for companies to build resilience. There will be a learning curve and sustainability reporting will improve over time. Over the next year or two, expectations will become clearer. To support the implementation of the CSRD, the Commission and EFRAG are offering guidance, including Q&As. The EU will also provide funding to Member States to assist companies.  

ecoDa was delighted to welcome the Chair of the CEAOB Panos Prodromides to our training day on audit committees, part of the European Board Diploma program. It's a privilege to provide board members with insights from top experts in the field and to contribute to the strengthening of corporate governance across Europe.

How Do Corporate Governance Frameworks Influence Corporate Reporting Quality in Europe? 📊 Corporate reporting is crucial for maintaining financial stability and protecting investors. From 2024 on, European companies will need to expand beyond traditional financial statements to include sustainability disclosures, with a requirement to report on ESG (Environmental, Social, Governance) information and obtain assurance. In this evolving context, corporate governance is instrumental in ensuring the accuracy and robustness of corporate reporting, alongside statutory audit and supervision. Yet, the diversity in corporate governance frameworks across EU member states, shaped by different cultural and economic backgrounds, raises important questions: 🔎 Key Issues to Explore: - Does the variety in corporate governance frameworks across member states create barriers to improving corporate reporting quality and reducing costs at the EU level? 🌏 💸 - How can we uphold the quality and consistency of corporate reporting as requirements expand while balancing the European Commission's push to reduce reporting burdens for companies? 📉 🏛 - Are there emerging best practices that enhance internal controls and auditing processes for more robust corporate reporting? 🏆 🔍 ecoDa and Forvis Mazars invite you to a thought-provoking discussion featuring:  ✨ David Herbinet, Head of Audit & Assurance at Forvis Mazars ✨ Anne-Helene Monsellato, Independent Board Member ✨ David Risser, Managing Director at Morrow Sodali Don't miss this opportunity to gain insights into the latest trends and challenges in corporate reporting and governance. Register now for a discussion that promises to be insightful and impactful! Link to register: https://lnkd.in/eFy95efN #CorporateGovernance #CorporateReporting #EU #ESG #FinancialStability #Sustainability #Audit #BestPractices #InternalControl

👉 Kick off the ecoDa a.s.b.l - The European Confederation of Directors Associations EBD Fall session!  ecoDa has kicked off its 5th edition of the European Board Diploma (#EBD)! ⏩ Today, 35 participants from across Europe have come together to embark on an enriching journey to better understand the diversity of Corporate Governance models in Europe. Over the next few days, they will engage in interactive sessions and share experiences. 🗨 A heartfelt thanks to our speakers for their contributions today – and a special thanks to a new speaker in our faculty Cemre A. ❔ Interested in joining our next edition or our specialized modules on audit committees, shareholders-boards relations, or climate issues? Reach out to us!  #EBD #corporategovernance #leadership #boardmembers #europe   Speakers: Pascal Durand-Barthez Lena Henningsson Chris Hodge Gudrun Timm Gaudiana Giusti Peter Zadora Hannah Summers Piia Pilv Florian Jacques Blomme Hilde Kyriakos Yennadiou Ludo VAN DER HEYDEN Moderators: Hagen Schweinitz and Anastasia Papageorgopoulos Program designer and organizer: Béatrice Richez-Baum Maya Geneletti

Thanks to Maria Pierdicchi, our board member, who represented ecoDa a.s.b.l - The European Confederation of Directors Associations at the ECIIA | European Confederation of Institutes of Internal Auditing conference !