Financial Management Advisory and New Technologies to Support SME Growth and Jobs in the Western Balkans – Opportunities for Cooperation between Professional Accountancy Organizations and Chambers of Commerce
Across every sector of the global economy, the pace of technological change has accelerated: Artificial intelligence (AI), cloud-based platforms, and Software-as-a-Service (SaaS) solutions are no longer the preserve of large enterprises. They are reshaping the competitive landscape for small and medium-sized enterprises (SMEs), and transforming, fundamentally and irreversibly, the way SMEs operate, manage their businesses and their finances.
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.
Second Regional Audit Quality Assurance Forum “Practical examples of public oversight and quality control of audit”
The second Audit Quality Assurance Forum convened on November 7-8 in Skopje, North Macedonia, bringing together 51 representatives from competent authorities in the field of audit public oversight across Western Balkan countries. Ministries of finance and professional accounting associations, which play a crucial role in this domain, were also present.