International Accounting Standards (IAS)

The Public Sector Accounting and Reporting (PULSAR) Program held a joint workshop on December 1, 2022, for members of its Communities of Practice: on Financial Reporting (FinCoP) and Education (EduCoP). The EduCop was also joined by the members of The Strengthening Auditing and Reporting in Countries of the Eastern Partnership (STAREP) Program. The workshop was organized by the World Bank Centre for Financial Reporting Reform (CFRR) as part of events marking 15 years of CFRR activities.

A CFRR workshop in Moscow on October 17 highlighted the changing role and requirements of professional accountants and auditors, and the strategic benefit in ensuring they acquire and maintain relevant knowledge, skills, and experience for a successful career in an increasingly global marketplace.

During the first week of May, the regional "Strengthening Auditing and Reporting in the Eastern Partnership" program hosted several knowledge and capacity events aimed at strengthening accounting and auditing profession in Georgia. Joining forces with the Service for Accounting, Reporting and Auditing Supervision (SARAS) and IFRS Foundation, the World Bank’s CFRR delivered two roundtables dedicated to the accounting education and professional development, as well as IFRS Workshop.

Professional Accountants bring to bear their skills in applying international accountancy standards that increase the credibility and trustworthiness of financial reporting in all sectors of the economy.  However, in the world of Private Equity, fund managers are often required to analyze opportunities and make investments in environments where financial accounts are of questionable quality. So, what is the role for a professional accountant in private equity?