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Financial Reporting Technical Assistance Program
The Financial Reporting 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.
The World Bank Centre for Financial Reporting Reform was selected as a service provider in the area of financial reporting for the following countries: Czech Republic, Estonia, Latvia, Poland and Slovenia