Audit reform

The Kyrgyz Audit and Reporting Enhancement Project (KAREP) is working to enhance the investment climate in the Kyrgyz Republic by increasing the availability of transparent and reliable financial information, raising the quality of audit services and building trust in the audit profession, strengthening financial reporting capacity, and improving the public accountability of state-owned enterprises. Funded by the Government of Switzerland through the Swiss State Secretariat for Economic Affairs (SECO) and implemented by the World Bank, KAREP became operational in September 2017.

This virtual workshop allowed participants to gain insight into proposed revisions and standards issued by the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standard Board (IESBA) and become updated with these developments directly from the Standard Setting Boards.

The International Federation of Accountants (IFAC), with the support of the Small and Medium Sized Practices (SMPs) Committee that acts as its strategic advisor, supports the SMP sector through a number of initiatives. These initiatives are designed to raise the profile and build the capacity of SMPs globally, as well as increase awareness about their role and value, especially in supporting small and medium sized enterprises (SMEs).

Financial Reporting in Private and Public Sectors – Common Issues, Challenges and Recent Developments

A two-day workshop on November 28-29 convened participants from three regional programs, covering 13 countries, that is STAREP (Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine), EU-REPARIS (Albania, Bosnia & Herzegovina, Kosovo, FYR Macedonia, Montenegro and Serbia) and PULSAR (Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Croatia, Georgia, Kosovo, FYR Macedonia, Moldova, Montenegro, Serbia and Ukraine) [PULSAR joint workshop was co

During 8-10 October 2018, the World Bank Georgia Country Office hosted two delegations from the Ministry of Finance of the Republic of Belarus and from the Service for Regulation and Supervision of Financial Markets of the Kyrgyz Republic (SRSFM). The delegations had a unique opportunity to learn about implementation of audit reform in Georgia from their colleagues from the Service of Accounting, Reporting and Audit Supervision (SARAS) in an interactive workshop format.

About 300 delegates including ministers of finance, senior government experts, and representatives of the business, professional and academic communities gathered today to discuss the role financial information plays in supporting economic development, regional and global integration of economies, and convergence of income and living standards between poorer and richer countries. The conference took place under the auspices of the Austrian Presidency of the Council of the European Union and was organized by the World Bank’s Centre for Financial Reporting Reform (CFRR).