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.

Philippines Accounting and Auditing Report on the Observance of Standards and Codes

A&A ROSC | 2017

The World Bank conducted reviews of accounting and auditing within the ROSC initiative at the invitation of Philippines. The World Bank utilized a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC.

Focus Areas

Public Oversight Systems for Statutory Audit in the EU

Publication | 2017

Public oversight of audits and auditors is a relatively recent development, particularly in light of the length of time that capital markets and the audit profession have operated. This paper reflects on the rationale for public oversight of auditors, summarizes the relevant EU legislation and international benchmarks for public oversight systems, and thereafter compares and contrasts the different approaches taken by EU member states to operate their public oversight systems.

Focus Areas

Public Sector Internal Audit: Focus on Fraud

Publication | 2017

Strong internal controls, including maintaining a robust internal control environment, are the best way public sector organizations can mitigate fraud. However, even a strong internal control environment cannot guarantee that no frauds will take place within organizations. Implementation of further lines of defense, such as an efficient and effective internal audit function, is important.

Focus Areas

PULSAR Brochure

Brochure | 2017

Public Sector Accounting and Reporting Program (PULSAR) aims to support the enhancement of participating countries’ Public Sector Accounting (PSA) and financial reporting frameworks in line with international standards and in accordance with good practices, in order to improve government accountability, transparency, and performance.

Focus Areas

Serbia - Public sector accounting review: report on the enhancement of public sector financial reporting

Report | 2017

The government’s public financial management (PFM) Reform Program 2016-2020 foresees the gradual transition of public sector financial reporting from a cash basis to an accrual basis of accounting and the application of International Public Sector Accounting Standards (IPSAS). This will significantly improve the quality of financial information and should enable better informed decision-making, more efficient use of public funds and resources and improved fiscal performance.

Focus Areas

Simulated Client Meeting: Developing Client Relationship Skills

Teaching material | 2017

This group challenge was developed to facilitate the EU-REPARIS Audit Training of Trainers program and enables participants to practice their client relationship skills and cross-selling techniques. By engaging in the simulated client meeting, participants are provided with an opportunity to practice these skills in a simulated face-to-face client meeting and thus tackle and solve some real life business situations and problems.

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

Small and Medium Practices: The Trusted Advisors of SMEs

Publication | 2017

Small- and medium-sized practices (SMPs) have an important role to play in supplying professional services to their small- and medium-sized enterprise (SME) clients. Understanding the range, requirements and benefits of available professional services is essential for practitioners and SMPs to be able to tailor the various services to meet the needs of their SME clients, as well as helping them to choose the right service for their needs.

Focus Areas

The Internal Audit Ethical Dilemmas Board Game

Teaching material | 2017

Developed to facilitate the Internal Audit Training of Trainers program, the objective of the Ethical Dilemmas Board Game is to enable participants to approach professional ethics training and education in a practical way, by analyzing threats that arise and selecting an appropriate course of action in line with the fundamental principles of the Code of Ethics for Internal Auditors prescribed by the Institute of Internal Auditors (IIA). The game is expected to develop participants' ethical decision-making skills and to make sound judgments when resolving and mitigating ethical dilemmas.

Focus Areas

The Republic of Moldova: Support to State Owned Enterprises (SOEs) - Preliminary Diagnostics and Reform Assessment Report

Report | 2017

This report is the result of research and analysis undertaken as technical assistance to the Ministry of Finance of the Republic of Moldova, delivered by the World Bank Governance team in collaboration with the UK’s Good Governance Fund. It focuses on the issues identified by OECD Guidelines on Corporate Governance as important in ensuring that state owned enterprises (SOEs) operate in an efficient, transparent and accountable way.

Focus Areas