Financial reporting

This regional workshop in Kyiv aimed to increase understanding of European Union (EU) accounting requirements for micro, small and medium-sized enterprises (SMEs).

Building on previous Accounting and Auditing Standards Communities of Practice (A&ACoP) events, this workshop was organized by the World Bank Centre for Financial Reporting Reform (CFRR), as part of the “Strengthening Auditing and Reporting in the Countries of the Eastern Partnership” (STAREP) program.

A two-day virtual forum for banking and insurance regulators was delivered by the CFRR on December 13 and 14, 2021 under two flagship regional programs: 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 Enterprises (REPARIS for SMEs). Representatives of regulators from Kazakhstan and the Kyrgyz Republic also joined the event.

Accrual accounting reporting, which means recording the economic substance of transactions when they occur regardless of the occurrence of their respective cash settlement, is fundamental to good decision making, transparency and accountability.

On May 19, as part of the Kyrgyz Audit and Reporting Enhancement Project (KAREP), the World Bank held an exchange experience webinar in cooperation with the National Business Center (NBC) of Albania.

A new initiative aiming to increase transparency, accountability, and improve management of public resources through the enhancement of public sector accounting and financial reporting frameworks was launched in Vienna on December 11, 2017. The Public Sector Accounting and Reporting Program (“PULSAR”) delivers on a growing demand for a programmatic approach to strengthening public sector accounting through diagnostic assessments and capacity building targeted at public sector accountants, government institutions and a variety of other stakeholders.

The Public Sector Accounting and Reporting program (“PULSAR”) is a new initiative to increase transparency, accountability, and better management of public resources in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Croatia, Georgia, Kosovo, FYR Macedonia, Moldova, Montenegro, Serbia, and Ukraine through the enhancement of public sector accounting (“PSA”) and financial reporting frameworks. PULSAR is financed by the Governments of Austria and Switzerland and is implemented by the World Bank.

The PULSAR program is an initiative to increase transparency, accountability, and better management of public resources through the enhancement of public sector accounting (PSA) and financial reporting frameworks. PULSAR is financed by the Governments of Austria and Switzerland and is implemented by the World Bank. Participating countries include Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Croatia, Georgia, Kosovo, FYR Macedonia, Moldova, Montenegro, Serbia, and Ukraine.

The PULSAR program hosted a joint Smart Interactive Talk (SIT) of Financial Reporting (FinCoP) and Education (EduCoP) Communities of Practice.

The main objective of the virtual workshop was to discuss and provide information to the participants on different elements that are required for designing an effective and successful training program. Some of the topics discussed during the workshop were: (i) what are the most effective education and training methods; (ii) what is the best way to develop delivery method and instructional design; (iii) how to ensure that the knowledge, skills and abilities are transferred; (iv) importance of implementing continuous professional education program.