The Centre provides knowledge services and capacity development assistance. Services include analytical and advisory services, learning and skill development, know-how and knowledge transfer, and technical assistance and institutional strengthening. All CFRR publications are available on this site.

Audit Oversight to Enhance Trust and Transparency in Corporate Financial Statements: Challenges in Developing Countries

Publication | 2019

Beginning with the Sarbanes-Oxley Act in the United States and the creation of the Public Company Accounting Oversight Board (PCAOB) in 2003, a global movement has developed to require independent oversight of corporate auditors.  The movement is premised on the notion that independent oversight of auditors is critical for investor confidence, stronger corporate governance, and more financial transparency.  A signal event in this movement was the EU’s Statutory Audit Directive of 2006, which required independent oversight to be developed in all EU member countries.  Similar strong commitmen

Focus Areas

Be Well Prepared to Meet Your Bank - What Banks want to know

Brochure | 2019

The bank will want a realistic picture of how much you owe to others. This is not always straightforward.

Focus Areas

Do You Need a Loan - Helping SME Access Finance in Serbia

Brochure | 2019

This brochure aims at helping SMEs access credit in Serbia, by providing 8 insights to help SMES how banks make lending decisions.

Focus Areas

How to Choose Your Accountant

Brochure | 2019

Banks need reliable, transparent financial information when making credit decisions. A financial advisor or accountant can advise you on when it could be advantageous to seek out a bank, and help you calculate, compile, and present your information to banks.

This brochure will help you in choosing a financial advisor or accountant for your SME.

Focus Areas

Understanding Your Financing Needs and Options

Brochure | 2019

SMEs often go to their bank for a loan when it’s too late. Banks reported that many SMEs wait until they face a severe cash constraint before they come to the bank to request a loan. The company’s cash is nearly depleted, and their pockets are empty. This is too late, since banks cannot lend to companies that are nearly bankrupt.

This brochure will help you in understanding your financing needs and options.

Focus Areas

Small and Medium Enterprises: Financial Information As A Catalyst For Lending - Results of a Survey on Bank Lending Practices in Serbia

Report | 2017

The study of bank lending practices to SMEs in Serbia, based on a survey of six of the largest banks, finds that financial statements are a significant input to banks’ lending decisions to SMEs. The report was disseminated on 17 October 2017 in Belgrade at the Banking Association; in attendance were representatives from ten commercial banks (some of which had participated in the study), the Ministry of Economy, and other stakeholders. The meeting acknowledged the findings and conclusions of the study and found them in line with their own practices.

Focus Areas