The key interventions under REPARIS include strategic input on
drafting and phasing-in of legal and regulatory instruments to comply with the acquis;
institutional design and operating procedures; and
design of ongoing education and training programs, both academic and professional.
In addition, the Program includes twinning arrangements with leading foreign institutions, as well as the establishment and start-up support of a network of regulators, standard-setters, and officials from participating countries.
On a global level, the World Bank plays a leading role in advising countries on accounting and audit regulation. The international community has emphasized the important role of international standards in strengthening the international financial architecture. In this context, the World Bank is the international institution charged with assessing countries systems of accounting and auditing regulation through the Reports on the Observance of Standards and Codes (ROSC) Accounting and Auditing Program. The ROSC Accounting and Auditing Program was established to assist countries in implementing International Financial Reporting Standards and International Standards on Auditing in order to strengthen their financial reporting regime. For first and second wave accession countries, the ROSC assessments have been carried out in close cooperation with the European Commission and these ROSC reports has formed the analytical and diagnostic underpinning for the REPARIS initiative. The REPARIS program is built on the robust analytical underpinning, the ROSCs, and a systematic approach to the development of a multi-faceted reform program.