EAASURE is funded by the Austrian Ministry of Finance and the Swiss State Secretariat for Economic Affairs (SECO). It aims to enhance corporate financial reporting practices and support the adoption and roll out of sustainability reporting in the Europe and Central Asia (ECA) region. Direct program beneficiaries are policy makers, regulators, state-owned enterprises (SOEs), professional accountancy organizations (PAOs), academia, students, and other stakeholders the participating countries who contribute to the development, enhancement, and implementation of the institutional framework for corporate financial and non-financial (sustainability) reporting, aligned with international standards and good practices for accounting, auditing, accounting-education and sustainability reporting.

The launch event outlined the proposed focus areas and activities to be delivered under the new program. EAASURE is designed as a set of regional activities complemented by country-specific programs focused on five key components: (i) regulatory frameworks; (ii) sustainability reporting; (iii) monitoring and enforcement systems, (iv) institutional capacity building, and (v) state-owned enterprises governance. These were well-received by the participants.

Participating countries acknowledged the need to continue progressing with the corporate financial reform agenda and recognized the importance of supporting and adopting sustainability reporting. They are all at different stages of reform progress in corporate financial reporting, sustainability reporting, monitoring, quality assurance, and oversight, including the related legislation, rules, and processes for SOEs. Consequently, regional support with country specific action plans will offer access to knowledge, good practices, and peer learning in order to advance further on the program’s agenda.

Examples of EASURE activities will include:

• Diagnostics and support in updating EU transposition tables.
• Support in adoption of new or revision of existing laws, by-laws, regulations, and standards.
• Knowledge sharing and training events on corporate financial reporting, sustainability reporting, training of trainers.
• Technical assistance with the introduction of regulations, monitoring, and enforcement systems, including XBRL feasibility studies.
• Development of learning materials and professional certification schemes, including a national or regional certification scheme in sustainability reporting.
• Awareness raising and analytical products to inform sustainability reporting reforms.
• Development of Country Action Plans for sustainability reporting.
• Technical assistance with the adoption and implementation of sustainability standards.
• Technical assistance for selected SOEs on implementation of governance reforms.
• A regional SOE community of practice to participate in knowledge sharing and training events.

World Bank experts explained how EAASURE hopes to benefit the participating countries to enhance SOE performance in financial and non-financial reporting, monitoring, and disclosure. The establishment of a community of practice should be especially helpful to members, supporting them to meet periodically to learn from each other's experiences, engage with international experts, and identify tailored solutions for the SOE reform agenda in their countries.

The launch event was part of the wider knowledge sharing event held jointly with the Road to Europe Program of Accounting Reform and Strengthening Institutions for Small and Medium-sized Enterprises (REPARIS for SMEs), the  ongoing regional program for the Western Balkan countries. Other topics addressed related to corporate financial and sustainability reporting, public oversight, and audit. Feedback from participants confirmed that it provided a valuable opportunity for participants to interact with international experts and regional peers.