Programme of Accounting Reform and Institutional Strengthening – REPARIS
REPARIS was set up by the World Bank in close cooperation with the European Commission, the OECD, the private sector and multilateral and bilateral partners. The Austrian Government has been supporting it since 2006, with a contribution of US$1.16 million. ADA (the Austrian Development Agency) has entered into a strategic alliance with the World Bank until 2014. The objective of the programme is to create a transparent policy environment and an effective institutional framework for corporate reporting in South Central and South East Europe. The programme is focused on the introduction, implementation and effective enforcement of relevant aspects of the EU’s acquis communautaire (the complete body of EU legislation).
The key interventions under the programme are:
(i) the drafting and phasing-in of legal and regulatory instruments to comply with the acquis; (ii) institutional design and operating procedures; and (iii) the design of ongoing education and training programmes.
In addition, the programme will include twinning arrangements with leading foreign institutions.
For more information:
Strengthening Auditing and Reporting in the Eastern Partnership countries (STAR-Initiative)
The overall goal of the programme is to support the development of a market-based economy through enhanced corporate financial reporting standards and practices, providing investors, lenders, relevant public authorities and other users with accurate financial information for business and administrative decisions. The programme will be implemented by the Vienna based World Bank Centre for Financial Reporting Reform (CFRR). It focuses on the Black Sea/South-Caucasus region. It is modeled after the current REPARIS programme for the Western Balkan.