In Vienna, the regular workshop organized by the World Bank's Centre for Financial Reporting Reform (CFRR) took place, which was attended by the Head of Public Sector Accounting Methodology and Reporting Monitoring Department Karen Alaverdyan, Deputy Head of Department Raffi Aleqsanyan, as well as representatives from the Association of Accountants and Auditors of Armenia.
The main objective of the workshop was to discuss a number of issues on non-financial reports prepared by organizations, as well as on the introduction of public control system in the sphere of audit through presenting the experiences of a number of countries.
During the workshop Karen Alaverdyan presented comprehensive information on the activities regarding the introduction of public control system in the sphere of audit in Armenia. It was particularly presented: at what stage the process of implementation of legislative reforms in the spheres of audit and public control is, which the key challenges are on the way, and how the World Bank's Centre for Financial Reporting Reform (CFRR) can support the country in order to overcome those challenges.
The following main topics were discussed at the workshop:
1.The EU requirements for public control in the field of audit and the issues of their provision, comparative analysis of the examples of accountability of public control bodies;
2.Support for cooperation between supervisory bodies, the effective and consistent application of the new EU audit legislation;
3.Increasing the role and value of corporate accountability through non-financial accountability;
4.Cooperation between financial sector regulators, auditors and other regulatory authorities;
5.Public Control System in Serbia;
6.The experience of the German Federation in introducing a program of inspections in the sphere of audit quality control.