Project duration: 2017-2020
Project code: TF2080-1-1.2-2016-5
Project coordinator: Singidunum University and IPC ( Informativno poslovni centar) consortium
Participants from Singidunum University: Zoran Petrović, Lidija Barjaktarović, Nemanja Stanišić, Kosana Vićentijević, Goran Kunjadić, Goranka Knežević, Žaklina Spalević, Marijana Prodanović, Miroslav Perić
Abstract
The International Bank for Reconstruction and Development/International Development Association("World Bank"), acting as administrator of grant funds provided under the Europe Program for Accounting and Institutional Strengthening (REPARIS) (TF071151), gave the Republic of Serbia the amount one million seven hundred and forty thousand Euros (1 740,000) equivalent from the trust fund toward the cost of the Serbia Technical Assistance for Reform of Corporate Financial Reporting Project, and it intends to apply part of the proceeds to payments for goods and consulting services to be procured under this project.
- Establishment of an International Standards on Auditing (ISAs) committee and developing a sustainable process for translating ISAs in Serbian.
- Developing a sustainable process for translating and adopting International Financial Reporting Standards (IFRS) and IFRS for SMEs in Serbian and supporting establishment of sharing mechanisms with other countries,
- Provision of training on the use and application of ISAs for auditing practitioners to enhance understanding for ISA and its application, and training the trainers for sustainability
On September 21, 2017, the Ministry of Finance signed a contract with a consortium comprised of Singidunum University and Informative Business Center (IPC-Informativno poslovni centar). By this agreement, the consortium officially became a consultant in the Serbia Technical Assistance for Reform of Corporate Financial Reporting Project.
The main task of the consortium is to provide the Ministry of Finance consulting services: to review and analyze the existing legal and regulatory framework of corporate financial reporting and its alignment with the EU policies and best international practice (REF SRB-RCFR-TF2080-1-1.2-2016-5).