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.
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.
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.
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.
Engaging the participation of learners as presenters provides an opportunity to involve participants in a “learning by doing” approach and empowers them to apply their knowledge by simulating a real life scenario. This Group Challenge aims to enhance the soft skills development of trainers and to improve their presentation skills and techniques.
This note was prepared as part of the Financial Sector Assessment Program (FSAP) and was made public in January 2016. Its main objective is to describe the status and recent developments in corporate financial reporting framework in Montenegro and highlight key issues relevant to financial sector. The note represents a technical annex to the main FSAP Aide-Memoire and seeks to provide a high-level overview of developments since the 2007 A&A ROSC2, as well as highlight the areas that are most relevant to the financial sector.
Professional accountants recognize that achieving and maintaining the highest levels of professional competence help them win business and retain clients. Professional Accountancy Organizations (PAOs) have an important role to play in encouraging, facilitating and monitoring life-long learning. With the support of participating PAOs involved in the EU-REPARIS Audit Training of Trainers program, the World Bank Centre for Financial Reporting Reform has produced a short practical guide on Continuing Professional Development (CPD).
This exercise, developed to facilitate the EU-REPARIS Audit Training of Trainers program, enables participants to engage in a role play activity and develop their interview, communication and interpersonal skills. By simulating a real life business situation, participants tackle and solve some real life problems. This is critical for the development of the complex skills needed by auditors that go beyond the theory and International Standards on Auditing (ISAs), and also allows participants to exercise their professional judgment and understand problems from different perspectives.
Smaller audits are considered “a specialty”, with their own unique set of challenges for practitioners to address when engaging with smaller clients. This publication highlights some of those challenges and provides related insights that might be useful for practitioners, Small and Medium Sized Practices (SMPs) and Professional Accounting Organizations (PAOs) as they support their members.
This report provides a quantitative and qualitative analysis of the audit market in Poland. It features a range of data, including on the estimated number of companies that require audits, the number and type of auditors and audit firms, leading audit firms, and the auditors of the largest companies listed on the Warsaw Stock Exchange.