Tuesday 1 July 2014

UIC Finance Committee: New coordination of Accounting and Financial Regulation and IPAAB Groups

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The activities of the UIC Finance Committee (already described in eNews 401), relating to the work of the RCF groups (Accounting and Financial Regulation) 1, 2 & 3 as well as IPAAB (International Passenger and Baggage Accounts Auditing Body), as of 1 May 2014, have a new coordinator, Sabine Dambuyant, SNCF, also President of the group RCF 1.

The four groups have their own areas of work and also a number of activities in common which are overseen by the coordinator. As a part of their own activities, RCF 1 – establishes common Accounting Regulations of Passenger Traffic; RCF 2 – for Freight Traffic, RCF 3 – follows leaflets related to interest rate calculation and all financial purposes about traffic; while IPAAB, which had been created at the request of RCF1, and which depends directly on the UIC Passenger Forum, audits the correct application of international tariffs, UIC leaflets and CIT regulations for international passenger transport. Thanks to their actions, all these groups secure the revenues and improve the accounting processes and systems.
The aim of the joint activities of these groups is to:

  • Work on common objectives
  • Exchange good practices
  • Coordinate the work of these groups with other technical groups such as the UIC Legal Group; TEAM Messages, TAP MD, etc.

The joint activities include the work of RCF1 & RCF2 to update Leaflets 301 and 304, making them more suited to accept new companies which are not necessarily in the railway business. The coordinator of the RCF groups also participates in the work of RCF3, focused on the debt settlement issue and updating Leaflet 311 helping to establish long-term interest rate calculation. For RCF 1 following the IPAAB activities helps to see how the work is organised in the companies in which IPAAB conducts the audit, revealing for example difficulties and anomalies, which allow RCF1 to adapt its work to achieve better results and coordination.

In the next article about the work of the UIC Finance Committee groups we will get back to you with a more detailed report on the work of each group.

For further information please contact Maria Lafont: lafont@uic.org

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