Corporate financial reporting

On May 30, 2017, the World Bank’s CFRR organized a Workshop on Strategies for Greater Compliance with International Education Standards in Vienna. The event was organized within the Strengthening Auditing and Reporting in the Countries of the Eastern Partnership (STAREP) regional program, which is aimed to create a transparent policy environment and effective institutional framework for corporate reporting within the countries that make up the European Union’s Eastern Partnership: Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.

The official launch of the Service for Accounting, Reporting and Auditing Supervision (SARAS), a subordinated agency of Georgia’s Ministry of Finance, took place in Tbilisi on June 21. Reform of auditing and financial reporting is an obligation for Georgia under the country’s Association Agreement with the European Union (EU), and its implementation is a top priority for the Government.

On June 21-22, 2017, the World Bank’s CFRR organized the Workshop on the National Initiatives for Strengthening Accounting Education in Georgia. The event was organized within the Strengthening Auditing and Reporting in the Countries of the Eastern Partnership (STAREP) regional program, which is aimed to create a transparent policy environment and effective institutional framework for corporate reporting within the countries that make up the European Union’s Eastern Partnership: Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.

A two-day virtual webinar was delivered by the CFRR on March 30 and 31, 2022 under two flagship regional programs: Strengthening Auditing and Reporting in the Eastern Partnership (STAREP) and the Road to Europe Program of Accounting Reform and Strengthening Institutions for Small and Medium Enterprises (REPARIS for SMEs).

National initiatives for improving accounting education and strengthening professional accounting organizations (PAO) in Belarus were discussed at a workshop organized by the World Bank’s CFRR on September 20-21.

Serbian Finance Minister and other government and EU representatives discuss reform progress and share experiences

• Serbian Finance Minister Dusan Vujovic joined senior representatives from the World Bank Centre for Financial Reporting Reform (CFRR) program beneficiary countries, CFRR development partners including the European Commission, and the Governments of Austria, Switzerland and Luxembourg, as well as World Bank/CFRR representatives in Brussels on 29 March 2017.
• The meeting was convened to discuss financial reporting reform progress in countries in the Wester

A two-day virtual forum for banking and insurance regulators was delivered by the CFRR on December 13 and 14, 2021 under two flagship regional programs: Strengthening Auditing and Reporting in the Eastern Partnership (STAREP) and the Road to Europe Program of Accounting Reform and Strengthening Institutions for Small and Medium Enterprises (REPARIS for SMEs). Representatives of regulators from Kazakhstan and the Kyrgyz Republic also joined the event.

The CFRR organized a virtual workshop “IFRS for Regulators: COVID-19 Impacts & Responses” under STAREP program using the Webex platform on Tuesday 30 June 2020, at 14:00.  The event was attended by around 70 participants.

This workshop aimed to inform regulators about recent financial reporting and regulatory guidance, with a particular emphasis on those aspects of accounting and reporting that are currently most relevant to the financial statements of listed companies, especially banks.

A virtual seminar was organized to support STAREP countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova, Ukraine) to better understand the objective and the structure of the recently announced comprehensive review and request of information by the International Accounting Standards Board (IASB) on IFRS for SMEs with a final aim to provide IASB a regional consolidated response to the request for information.