Accounting and auditing standards

During the first week of May, the regional "Strengthening Auditing and Reporting in the Eastern Partnership" program hosted several knowledge and capacity events aimed at strengthening accounting and auditing profession in Georgia. Joining forces with the Service for Accounting, Reporting and Auditing Supervision (SARAS) and IFRS Foundation, the World Bank’s CFRR delivered two roundtables dedicated to the accounting education and professional development, as well as IFRS Workshop.

The conference on October 2nd featured speakers from the World Bank, the Professional Accountancy Organization Development Committee of the International Federation of Accountants (IFAC), as well as representatives from Professional Accountancy Organizations (PAOs) in Poland, the Kyrgyz Republic, and Georgia. The discussions focused on changes in Accounting Law, how to achieve smooth transition by learning good international practices and overcoming challenges, as well as the implications to the accounting profession.

Over 32 representatives from Central Banks, Banking Supervisory Agencies, and Insurance Supervisory Agencies from 13 countries from Europe and Central Asia attended the Executive IFRS for Regulators Workshop on 26 and 28 November 2018, at the hotel Intercontinental in Vienna. The workshop was one of the several events around the 2018 Ministerial Conference, that took place on 27 November 2018, and was specifically directed at financial supervisors and regulators. This workshop was jointly organized by the World Bank Centre for Financial Reporting Reform (CFRR) and the IFRS Foundation.

A two-and-a-half day workshop, designed for banking supervisory staff responsible for supervising banks and drafting accounting and prudential regulations, was held in Chisinau between 5 and 7 December, 2018. Speakers included the World Bank’s CFRR senior staff, experts in accounting standards, a former member of Audit Committee of banks as well as representatives of commercial banks and audit firms from Moldova.

Under the framework of the “Enhancing the Quality of Financial Reporting” (EQFinRep) project, Deloitte Albania presented the findings of two surveys regarding the users and preparers of financial reports in the country.

On 10 September 2019, the Centre for Financial Reporting Reform (CFRR), with the lead of Andrei Busuioc (Sr. FMS), played an important role in supporting a workshop on "Financial Reporting Quality and Its Impact on the Economy - Role of the Public Oversight Board" in Tirana organized by Albania's Public Oversight Board (POB).