Technical Assistance Program for the new EU member states

The technical assistance program 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.

 

The Swiss Enlargement Contribution was approved by the Swiss electorate in a referendum on 26 November 2006, and made available funds to help reduce economic and social disparities within the enlarged European Union. With a total of CHF 1 billion significant assistance is given to the group of ten countries that joined the EU on 1 May 2004 including Estonia, Lithuania, Latvia, Poland, Czech Republic, Slovakia, Hungary, Slovenia, Malta and Cyprus.
Further information can be found here:

» About the Swiss Enlargement Contribution

The World Bank Centre for Financial Reporting Reform was selected as a service providor in the area of financial reporting for the following countries:

	EstoniaÂ
	Slovenia

 

 

As one of the countries participating in the Swiss Enlargement Contribution program, the Government of Estonia signed a project agreement for private sector development activities on 23 January, and the Centre for Financial Reporting Reform was selected as service provider. A CHF 2 million grant will allow for significant support of the implementation and improvement of accounting and auditing standards helping Estonia to increase the quality of the professional audit examination system, to scale up the performance of auditing firms as such, and to ensure a competitive audit market meeting EU company law standards.

During the signing ceremony in Tallin, the Estonian Minister of Finance, Mr. Ivari Padar, the Swiss Ambassador in Helsinki, Mr. Josef Bucher, and the Head of CFRR, Mr. John Hegarty, were present.

For further information:

» Information portal on Switzerland's contribution to EU enlargement - Estonia 
» Swiss Contribution to Estonia

» Press Release of the Swiss State Secretariat for Economic Affairs
» Press Release of the Estonian Ministry of Finance

Andrej Bajuk, Gregor Krajc and John Hegarty

Within the Swiss Enlargement Contribution program, the Governments of Switzerland and Slovenia partner in a capacity building program that will help increase the performance of Slovenia's public oversight and strengthen the country's information systems on both, the macro and micro levels. In September 2008, the Slovenian Government hired the Centre as implementing agency for the program. The CHF 1.5 mio program provides significant assistance and tackles four areas the Slovenian Government has identified as priorities:

» Implementation of a Public Oversight System
» Implementation of a Quality Assurance System
» Implementation of a Public Register for Statutory Auditors and Audit Firms
» Implementation of International Financial Reporting Standards (IFRS)

With this step, Slovenia is at the forefront of countries that are putting in place considerable measures to strengthen their financial sectors. In addition to that, the program includes an update of the existing country financial sector analysis, the Accounting and Auditing Report on the Observance of Standards and Codes.

For further information:

» Information portal on Switzerland's contribution to EU enlargement - Slovenia
» Swiss contribution to Slovenia
» Slovenian - Swiss Cooperation Programme

» Press Release of the Swiss State Secretariat for Economic Affairs
» Press Release of the Slovenian Government Office for European Affairs