Adapting Accounting Frameworks for SMEs and the IFRS for SMEs Accounting Standard Update - Training of Trainers Workshop
Small and medium-sized enterprises (SMEs) account for over 95% of all businesses in Europe and provide a significant share of employment across countries, making them the backbone of the region’s economy. The European Union (EU) is working to simplify financial reporting requirements for SMEs. The World Bank Centre for Financial and Sustainability Reporting Reform (CFRR) assists countries seeking EU membership or aiming to strengthen commercial ties with the EU, to improve and harmonize financial reporting standards for their SMEs.
Sustainability Reporting and IFRS for SMEs
The Sustainability Reporting and IFRS for SMEs workshop brought together 26 participants to learn and discuss about sustainability reporting in the European Union, including the transposition of the EU Corporate Sustainability Reporting Directive (CSRD), the 12 European Sustainability Reporting Standards (ESRS), and the related Assurance Standard in the works.
Joint Accounting and Auditing Community of Practice: Advancing Financial Reporting, Audit and Sustainability Standards Implementation
A joint Accounting and Auditing Community of Practice (A&A CoP) workshop took place in Vienna, Austria on December 01, 2022. The event was organized under two flagship programs of the World Bank Centre for Financial Reporting Reform (CFRR): Strengthening Auditing and Reporting in the Eastern Partnership (STAREP) and the Road to Europe Program of Accounting Reform and Strengthening Institutions for Small and Medium-sized Enterprises (REPARIS for SMEs).