WORLD TRADE S/WPPS/2
26November 1997
ORGANIZATION(97-5186)
Original: English Working Party onProfessional Services
REPORT OFTHE WORKING PARTY ONPROFESSIONAL SERVICES
TOTHE COUNCIL FOR TRADE INSERVICES
1. TheWPPS heldsixformal, andseveral informal, meetings intheperiod March toend-October
1997. Another formal meeting isscheduled for15and16December. Discussions focused ontwo
mainitems: establishment oftheGuidelines forMutual Recognition Arrangements intheAccountancy
Sector ;andthedevelopment ofmultilateral disciplines ondomestic regulation intheaccountancy sector.
(a) Establishment ofnon-binding guidelines formutual recognition agreements orarrangements
intheaccountancy sector
2. TheWorking Party completed thedevelopment ofnon-binding guidelines forthenegotiation
ofmutual recognition agreements orarrangements, pursuant totheDecision onProfessional Services.
TheGuidelines forMutual Recognition Agreements orArrangements intheAccountancy Sector were
transmitted totheCouncil forTrade inServices forapproval asdocument S/WPPS/W/12/Rev.1.
(b) Development ofmultilateral disciplines ondomestic regulation intheaccountancy sector
3. Asrequested bytheWorking Party, theSecretariat prepared asynthesis ofresponses tothe
questionnaire onregulatory measures intheaccountancy sector (S/WPPS/W/11). Thiswasfollowed
bythesubmissionofproposeddisciplinesbyseveralMembers(S/WPPS/W/15-19),aswellascomments.
Member 'sproposals wereconsolidated bytheSecretariat inaninformal note, entitled Disciplines on
Domestic Regulation intheAccountancy Sector .Following discussions andcomments byMembers,
theSecretariat wasasked toprepare several further revisions oftheinformal note. Work iswell
advanced, inaccordance withparagraph 17oftheSingapore Ministerial Declaration.
4. AttheWPPS meeting of24March, arepresentative oftheOECD presented theresults ofthe
Third Workshop onProfessional Services ,heldinFebruary 1997. Twoletters ondisciplines ondomestic
regulation intheaccountancy sector werereceived fromtheInternational Federation ofAccountants
(IFAC) andcirculated toMembers.