Plenary session of EGAOB was held on 30 June 2009 in Brussels. Bulgaria was represented by Stoyan Malkochev, member of the Commission for public oversight of statutory auditors.

Representatives of the oversight bodies of the following countries took part in the meeting – Finland, Great Britain, France, Denmark, the Netherlands, Spain, Lithuania, Luxemburg, Germany, Hungary, Estonia, Check republic, Portugal, Norway, Ireland, Rumania and Bulgaria.

An option of the Material on Cooperation between competent bodies within EU with regard to art. 36 of Directive 43/2006/EC was discussed. It is drafted by the Dutch body for financial markets oversight and discussed within the work of Cooperation within EU subgroup. Comments were made aimed at finalizing the work on the document.

Participants assessed the degree of implementation of the recommendations of EC in their national systems for quality control of the audit services. To the moment only three countries have fully applied the European recommendations (The Netherlands, Great Britain and Malta). Bulgaria is amongst the greatest group of 10 EU member states that have fully transpositioned the requirements and the requirements of Directive 43/2006/EC but its implementation in practice is due.

The Chairperson, Mr Jurgen Tiedje, head of Audit unit in “Internal market and services” Directorate General of EC, introduced the participants the discussions held in the subgroup on cooperation between audit oversight bodies of EU and third countries. He gave information for the talks conducted with the oversight bodies of USA, Canada, Japan and Switzerland concerning the possible forms of cooperation.