Audit Oversight to Enhance Trust and Transparency in Corporate Financial Statements: Challenges in Developing Countries
Beginning with the Sarbanes-Oxley Act in the United States and the creation of the Public Company Accounting Oversight Board (PCAOB) in 2003, a global movement has developed to require independent oversight of corporate auditors. The movement is premised on the notion that independent oversight of auditors is critical for investor confidence, stronger corporate governance, and more financial transparency. A signal event in this movement was the EU’s Statutory Audit Directive of 2006, which required independent oversight to be developed in all EU member countries. Similar s
SOE Community of Practice & SOE Leadership Training Program
“SOEs are no longer just service providers. State-owned enterprises are large, strategic, and deeply embedded in economies and societies. They are essential to deliver today’s – and increasingly tomorrow’s – policy priorities,” said Fabian Seiderer, the World Bank’s Governance and Financial Management Manager for ECA. “The goal is not less state or more state, but better state ownership for stronger, sustainable outcomes.”
BARTA 2025: Promoting Transparency and Sustainability Reporting in Georgia
The seventh Georgian Best Annual Report and Transparency Award (BARTA) ceremony was held in Tbilisi on February 9, 2026. The event recognized companies demonstrating strong non financial (sustainability) reporting practices in 2025 across three categories: large financial companies, large non-financial companies, and small and medium companies.
State Ownership Policies: The Foundation for Accountable, Sustainable and Efficient SOE Reform - High-Level Dialogue with Reform Champions
On October 23, 2025, the World Bank hosted a high-level dialogue titled “State Ownership Policies: The Foundation for Accountable, Sustainable, and Efficient State-Owned Enterprise (SOE) Reform.” The event convened reform champions and over 40 policymakers from across Europe, Central Asia, and beyond, aiming to exchange experiences and lessons learned in shaping and implementing state ownership policies for SOEs.
Setting Targets: Developing KPIs for SOEs – International Experiences and Lessons for ECA
Developing KPIs for SOEs: Peer Learning on Performance Metrics for State-Owned Enterprises in Europe and Central Asia
State-Owned Enterprises (SOEs) are critical levers for public investment and service delivery. Yet, ensuring they deliver on both commercial and public mandates requires tools that can clearly translate ownership goals into measurable outcomes. At the heart of this challenge are Key Performance Indicators (KPIs).
Award ceremony recognizes improvements in sustainability reporting in Georgia
The sixth Best Annual Report and Transparency Award (BARTA) ceremony was held in Tbilisi, Georgia on February 28, 2025 under the Enhancing Accounting, Auditing, and Sustainability Reporting (EAASURE) program, implemented by the World Bank Centre for Financial and Sustainability Reporting Reform. The event was attended by 114 participants.
Bosnia and Herzegovina - Strengthening Corporate Governance: Sustainability Reporting and the Increasing Role of Audit Committees
Two recent conferences titled “Strengthening Corporate Governance: Sustainability Reporting and the Increasing Role of Audit Committees” were organized in Bosnia and Herzegovina under the Road to Europe Program of Accounting Reform and Institutional Strengthening for Small and Medium Enterprises (REPARIS for SMEs) regional project.
Enhancing Governance in Montenegro's SOEs: The Critical Role of Audit Committees
The fourth national conference under the Road to Europe Program of Accounting Reform and Institutional Strengthening for Small and Medium Enterprises (REPARIS for SMEs) in Montenegro on May 24 included important discussion of the critical role of audit committees in ensuring transparency and accountability of Public Interest Entities (PIEs) and state-owned enterprises (SOEs).
Strengthening Corporate Governance in Montenegro: Sustainability Reporting and the Increasing Role of Audit Committees
The fourth national conference under the Road to Europe Program of Accounting Reform and Institutional Strengthening for Small and Medium Enterprises (REPARIS for SMEs) regional project was held on May 24, 2024, in Ulcinj, Montenegro. The conference was organized in cooperation with the Institute of Certified Accountants of Montenegro (ICAM) as part of ICAM’s 9th International Symposium of Accountants and Auditors of Montenegro.