World Bank : Corporate Financial Reporting Program

The objective of the Serbia Corporate Financial Reporting Program (FINREP Serbia) is to support Serbia?s economic reforms in order to promote sustainable growth. Therefore, FINREP Serbia aims to increase the private sector?s resilience, competitiveness and access to finance through enhanced availability, transparency and reliability of financial information.

At outcome level, the program contributes to an enhanced investment climate in Serbia. It aims to improvide the institutional and technical capacity of supervisory authorities, professional organizations, and universities for quality financial reporting in line with the EU acquis communautaire and with international good practice. The project will focus on strengthening capacity for the accountancy and audit professions and improved monitoring and evaluation by regulators of financial reporting, for both private companies and state owned enterprises (SOEs).

Resultados previstos:  

The program promotes understanding and application of corporate accounting and auditing standards in Serbia.

Improvement of monitoring and enforcement of financial auditing and reporting standards.

Improvement of the Serbian accountancy education in Universities, etc.

Better monitoring and financial reporting of Serbia's state owned enterprises.