The Financial Stability Board coordinates the work of international regulators to support integrating sustainability policies at the request of the G20, including though climate and environment monitoring, under four key policy areas: firm-level disclosures, data, vulnerabilities analysis, and regulatory and supervisory practices and tools.
The Public Sector Accounting and Reporting (PULSAR) Program held a joint workshop on December 1, 2022, for members of its Communities of Practice: on Financial Reporting (FinCoP) and Education (EduCoP). The EduCop was also joined by the members of The Strengthening Auditing and Reporting in Countries of the Eastern Partnership (STAREP) Program. The workshop was organized by the World Bank Centre for Financial Reporting Reform (CFRR) as part of events marking 15 years of CFRR activities.
The world is seeing growing challenges that are affecting the real – and the financial economy, including banking and insurance companies. In the last two years, countries in Europe and Central Asia (ECA) are seeing the gains of ten years of reform and investment for inclusive growth and shared property drastically diminished by the Covid-19 pandemic, adverse climate events, and the war in Ukraine; these events have been disrupting supply chains and led more recently to rapid changes in prices of energy, food, and commodities, leading to inflation and rising interest rates.
Representatives of over 20 Professional Accountancy Organizations (PAOs) met in Vienna on 28 April 2016 with experts from the World Bank, the International Federation of Accountants (IFAC), and the International Accounting Standards Board (IASB), to discuss the contribution of PAOs to economic growth.
On December 16, a virtual seminar on the International Code of Ethics for Professional Accountants (IESBA Code) was organized by the EU funded twinning project Enhancing Accounting and Audit Quality in Georgia in cooperation with the Service for Accounting, Reporting and Audit Supervision (SARAS) and the Hellenic Accounting and Auditing Standards Oversight Board (HAASOB).
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.
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.
