The Financial Reporting Technical Assistance Program (FRTAP) for the new EU member states supported countries in the field of financial reporting. It aimed to assist in the implementation of sustainable regulatory and institutional frameworks and in furthering the correct implementation of the EU acquis communautaire in the area of financial reporting. Funds for this program were provided from the Swiss State Secretariat for Economic Affairs under the so-called Swiss Enlargement Contribution.
The Swiss Enlargement Contribution was approved by the Swiss electorate in a referendum on 26 November, 2006, and made available funds to help reduce economic and social disparities within the enlarged European Union. With a total of CHF 1 billion, significant assistance was given to the group of ten countries that joined the EU on 1 May, 2004 including Estonia, Lithuania, Latvia, Poland, Czech Republic, Slovakia, Hungary, Slovenia, Malta and Cyprus.
About the Swiss Enlargement Contribution
The World Bank Centre for Financial Reporting Reform was selected as a service provider in the area of financial reporting for the following countries: Czech Republic, Estonia, Latvia, Poland and Slovenia. The Polish component, launched in December 2009 and running to December 2016, was the largest of the national FRTAP programs (see also FRTAP Poland).