It is important for an Internal Audit function to put in place performance metrics to measure its effectiveness, boost its value proposition and enhance credibility via-a-vis stakeholders. This publication provides insight on performance measurement in the internal audit in public sector context and offers examples of performance measures that can useful for internal audit teams and regulators.
The purpose of this Knowledge Paper focusing on Key Accounting and Auditing Reforms is to assist the Macedonian Government to make informed decisions for future reform actions following the publication of the Macedonian Report on the Observance of Standards and Codes (ROSC) on Accounting and Auditing (A&A) in 2014.
An introduction into Austria’s corporate financial reporting environment, with a particular focus on SMEs and specific features of the Austrian environment, intended for policy makers, regulators and practitioners looking for examples of how to formulate or implement the corporate financial reporting elements of the EU acquis communautaire.
Small and medium-sized enterprises (SMEs) play a particularly important role in the Austrian economy, with commercial banks acting as their main sources of external finance. As SMEs are also very important in the REPARIS countries, analyzing how SMEs and their banks view the operation of financial reporting in Austria could produce some useful pointers for the design of financial reporting frameworks in the REPARIS countries.
A conference “Challenges and Achievements of Public Oversight in Improving Audit Quality and Financial Reporting” organized by the Public Oversight Board of Albania on November 19, 2024, in Tirana, Albania convened about 200 participants, representing professional accountants and auditors, academia, professional accounting associations, and various regulators, including the Ministry of Finance, Bank of Albania, Financial Supervisory Authority, and National Accounting Council.
The third Forum of Public Oversight Bodies (POB Forum) convened 63 participants from the beneficiary countries on October 22-23, 2024, in Bucharest Romania. The POB Forum is organized jointly under two regional programs of the World Bank Centre for Financial and Sustainability Reporting Reform (CFRR) based in Vienna, Austria: the Road to Europe Program of Accounting Reform and Strengthening Institutions for Small and Medium-sized Enterprises (REPARIS for SMEs) and the Enhancing Accounting, Auditing, and Sustainability Reporting (EAASURE) Program.
Key stakeholders involved in public oversight from Bosnia and Herzegovina convened in Sarajevo on October 1, 2024, to discuss ways to strengthen audit public oversight at both the country and entity levels to ensure better alignment with the European Union (EU) acquis. The event was attended by 30 participants, including representatives from relevant institutions and professional accounting associations from Republika Srpska, the Federation of Bosnia and Herzegovina, Brčko District, as well as the state-level Ministry of Finance and Treasury.
As part of the REPARIS for SMEs regional program for the Western Balkans, experts from the Institute of Chartered Accountants of England and Wales (ICAEW) delivered a series of interactive webinars on the subject of private sector audit and audit inspection.
A new regional program Enhancing Accounting, Auditing, and Sustainability Reporting (EAASURE) was launched in Vienna, Austria on May 28-29, 2024 as part of a two-day Knowledge Sharing Event “Responding to New Requirements and Challenges in Corporate Financial and Sustainability Reporting” attended by about 80 participants from the 11 beneficiary countries.