This Financial Reporting Community of Practice meeting discussed the implementation of accounting and auditing reforms in alignment with the related EU acquis Communautaire, and capacity building initiative in the countries of the Western Balkans.

Besides the accounting and auditing reform, the question to regulate accounting services to ensure quality is very present in the Western Balkan government today. While not a requirement of the acquis, several countries discussed the opportunity to regulate accounting services, to ensure quality. Ms. Geraldine de Leon, Head of International Department, CSOEC, provided insights on how the accounting profession is regulated in France.

In the area of auditing, Mr. Eric Jean Viste, Commissaire aux Comptes (licensed auditor), shared his experience in using auditing software package. Also he provided information on the package that the French profession put together for small audits, Pack PE.

Mr. John Hodge, Senior Financial Management Specialist lead a discussion on trends for the accounting profession to better support growth in the SME sector.

Mr. Abbas Kizilbash, Senior Financial Management Specialist, presented a new publication on the challenges of implementing audit oversight in developing countries.

Slideshow |

The role of the accounting profession in modernizing the Western Balkans region

During the second day, Messers: John Hodge and Pascal Frerejacque presented the latest work that was performed under the Fin for SME program, and future direction of the REPARIS for SMEs Program, that would start in spring 2020.  Members of the FRCoP acknowledged the team’s efforts and are looking forward to the activities.

Finally, Mr. Miroslav Brkic, Head of Department in the Ministry of Finance of Republika Srpska, presented the latest reform initiatives on accounting and auditing, which was followed by an open discussion.

The workshop convened participants from 6 countries from the Western Balkans (Albania, Bosnia & Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia).

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