A new World Bank program to improve the quality of financial reporting in the countries of the EU’s Eastern Partnership will be launched in Vienna, Austria on 1 October, 2013. Senior officials from several countries of eastern and south-east Europe, as well as representatives from the EU, other European countries and international bodies, will gather at an inaugural conference to launch this initiative.
The new program, Strengthening Auditing and Reporting in the Countries of the Eastern Partnership (STAREP), brings together Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine. These six countries have made significant progress in modernizing their systems of corporate financial reporting but face several outstanding common challenges, especially as regards institutional capacity.
Participants at the conference will be invited to discuss recent and prospective changes in international reporting standards and international and European regulatory frameworks. They will also exchange views on the challenges they face in carrying out reforms, and learn from each other’s experiences in designing and implementing new frameworks for corporate financial reporting.
Find out more: Centre for Financial Reporting Reform (CFRR)