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This good practice paper is a product of knowledge sharing and collaboration among the FinCoP members with support from international experts. It is intended to inform and assist PULSAR countries in updating or designing a full scope chart of accounts.
It is the first report prepared under the Accountants as Catalysts for Growth (A4G) initiative. EU-REPARIS has been designed to help and encourage the process of aligning legal frameworks in accounting and audit with the EU’s Acquis Communautaire and encourages the accounting profession to offer enterprises, especially MSMEs, effective business support services and advice on accessing finance and complying with regulatory requirements.
The World Bank conducted reviews of accounting and auditing within the ROSC initiative at the invitation of Albania. The World Bank utilized a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC.
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
The Benchmarking Guide for Integrating Public Sector Accounting and Government Finance Statistics aims to inform practitioners and public sector accounting reforms by highlighting the similarities and differences between International Public Sector Accounting Standards and Government Finance Statistics reporting guidelines such as the Government Finance Statistics Manual of the International Monetary Fund (GFSM 2014) and the European System of Accounts (ESA 2010).
The Common Core includes a series of learning objectives which would establish a solid platform for all Accounting Degree Programs offered by Universities in the STAREP Region. It was developed through a broad consultation process with EduCoP participants, including representatives from ministries of finance, universities, and professional accountancy organisations (PAOs) from its six member countries, who provided fundamental input to define the common learning outcomes to be included.
The guide supports transitioning accounting education, training, and certification from a knowledge-based approach to a competency-based approach. Underlying this shift is the expanding expectation for accountants to professional judgment in response to greater transaction complexity, interconnectedness of entities, and broader global influences.
Building trust takes time, whether it is between individuals, stakeholders’ groups, or institutions, the road to cooperation is long and requires important investments. The objective of this policy note is to provide in a succinct document, some of the key aspects for building that trust to foster cooperation, using the experience of several supervisors.