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Dennis Jullens (UBS), Michal Skiba (PGE) and Stacy Ligas (KPMG Poland) discuss the challenges in implementing IFRS in Europe at the conference on "IFRS: Recent changes, sustained benefits" held in Warsaw on 30 June 2011.
The Road to Europe: Program of Accounting Reform and Institutional Strengthening (REPARIS) is a regional program aimed at creating a transparent policy environment and effective institutional framework for corporate reporting within South Central and South East Europe. Participating countries/entities include Albania, Bosnia and Herzegovina, Croatia, Kosovo, Former Yugoslav Republic of Macedonia, Moldova, Montenegro, and Serbia.
The Financial Reporting Technical Assistance Program (FRTAP) for the new EU member states supports countries in the field of financial reporting. It aims to assist in the implementation of sustainable regulatory and institutional frameworks and in furthering the correct implementation of the acquis communautaire in the area of financial reporting. Funds for this program are provided from the Swiss State Secretariat for Economic Affairs under the so-called Swiss Enlargement Contribution.
As part of the Accounting and Auditing Reports on the Observance of Standards and Codes (A&A ROSC) initiative, the World Bank has established a program to assist its member countries in implementing international accounting and auditing standards for strengthening the financial reporting regime.
As part of the World Bank's Joint Economic Research Program (JERP) for Kazakhstan, the Centre for Financial Reporting Reform (CFRR) is managing a technical assistance project to investigate the potential for using the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) issued by the International Accounting Standards Board (IASB) to improve the financial reporting framework for small and medium-sized enterprises in Kazakhstan.
The Corporate and Public Sector Accountability Project (CAPSAP) is an important component of the World Bank Group's Country Partnership Strategy (CPS) for Azerbaijan. In particular, the first pillar of the CPS aims at:
improving the quality and transparency of public sector governance by maintaining a stable macroeconomic framework that makes prudent use of oil revenues;
improving public expenditure planning and management;
strengthening financial management and procurement systems;
establishing proper public sector and corporate governance, accounting and auditing frameworks; and
creating an administrative and regulatory environment conducive to growth.