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.

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.

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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.

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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.

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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.

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"Connecting Voices" - Financial Information: Catalyst for Growth

Publication | 2016

This special edition of “Connecting Voices” was published to coincide with the World Bank Centre for Financial Reporting Reform’s (CFRR) Ministerial Conference in Vienna on 27 April 2016. The theme of the magazine, Financial Information: Catalyst for Growth, is reflected in its articles and interviews, which focus on the importance of timely, reliable, and transparent financial information as a driver and contributor of sustainable economic growth.

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Accountancy Education Benchmarking Study

Publication | 2016

Six countries, members of the EU-REPARIS Program’s Education Community of Practice (EduCop) – Albania, Bosnia and Herzegovina, Kosovo, Macedonia FYR, Montenegro and Serbia – participated in an Accountancy Education Benchmarking Study between March 2015 and May 2016. The Study was a comprehensive assessment of the countries’ 14 universities and PAOs, which together provide 25 academic and professional accountancy education programs to around 4,120 enrolled students.

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Audit Training of Trainers Modules

Teaching material | 2016

The document provides a detailed overview of the Audit Training of Trainers program including the content and composition of the modules and sessions.

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Banking Supervisors and External Auditors: Building a Constructive Relationship - GUIDE

Publication | 2016

The present Guide draws together recommendations to improve the relationship between supervisors and external auditors illustrated by good practices from 35 supervisory authorities across Europe and Central Asia (ECA). It has been developed as a supplement to the 2015 World Bank Centre for Financial Reporting Reform (CFRR) report on Banking Supervisors and External Auditors: Building a Constructive Relationship.

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CFRR Brochure

Brochure | 2016

The World Bank Centre for Financial Reporting Reform (CFRR) located in Vienna, Austria, is responsible for the World Bank’s corporate financial reporting activities across the Europe and Central Asia region. 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.

Chamber of Auditors of Poland: Institutional Analysis

Publication | 2016

This institutional analysis has three main objectives. Firstly, to provide policy options to the Chamber of Auditors of Poland (KIBR) on the areas remarked on and raised in previous analytical reports, notably the Accounting & Auditing (Update) ROSC report of December 2013. Secondly, to provide policy options to KIBR on the areas that it is specifically considering. And thirdly, to assess KIBR’s performance against matters suggested by IFAC as important in the establishment and development of a professional accountancy body.

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