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Centre For Financial Reporting Reform
The Centre for Financial Reporting Reform (CFRR), part of the World Bank’s Governance Global Practice, works with client countries in Europe and Central Asia to implement good corporate governance and financial reporting practices and standards. The CFRR provides a range of diagnostic assessments, technical assistance, knowledge and convening services in the fields of audit, accounting, financial reporting and the implementation of international standards in these areas. Partners include the European Union, the Austrian Development Cooperation, thSwiss State Secretariat for Economic Affairs (SECO)and the Federal Ministry of Finance of the Republic of Austria. Overview The CFRR was established in 2007. It is located in Vienna, Austria (the formal "seat agreement" was signed on 21 July 2010 between the World Bank and the Government of Austria.World Bank Press Release, 21 July 2010 http://go.worldbank.org/8EDR6GJ4A0) Programs managed by the CFRR offer expert advice, knowledge a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank Group
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. The bank is headquartered in Washington, D.C. in the United States. It provided around $98.83 billion in loans and assistance to "developing" and transition countries in the 2021 fiscal year. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity.The World Bank, Press release: "World Bank Group Commitments Rise Sharply in FY14 Amid Organizational Change"July 1 2014, http://www.worldbank.org/en/news/press-release/2014/07/01/world-bank-group-commitments-rise-sharply-in-fy14-amid-organizational-change/ref> Total lending as of 2015 for the last 10 years through Development Policy Financing was approximately $117 billion. Its five organizations are the International Bank for Reconst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Audit
An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them, obtain evidence, and evaluate the propositions in their auditing report. Audits provide third-party assurance to various stakeholders that the subject matter is free from material misstatement. The term is most frequently applied to audits of the financial information relating to a legal person. Other commonly audited areas include: secretarial and compliance, internal controls, quality management, project management, water management, and energy conservation. As a result of an audit, stakeholders may evaluate and improve the effectiveness of risk management, control, and governan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and " financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measure ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Reporting
Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand. They typically include four basic financial statements accompanied by a management discussion and analysis: # A balance sheet or statement of financial position, reports on a company's assets, liabilities, and owners equity at a given point in time. # An income statement—or profit and loss report (P&L report), or statement of comprehensive income, or statement of revenue & expense—reports on a company's income, expenses, and profits over a stated period. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period. # A statement of changes in equity or statement of equity, or statement of retained earnings, reports ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian Development Cooperation
Austrian Development Cooperation is a program of the government of Austria that supports countries in Africa, Asia, South-Eastern and Eastern Europe, and the Caribbean. Austrian official development assistance (ODA) Actors Development cooperation in Austria is a task for the whole of government, which is why alongside the Federal Ministry of Finance and the Federal Ministry for Europe, Integration and Foreign Affairs other federal ministries, the federal states and municipalities and the Oesterreichische Entwicklungsbank (Austrian Development Bank) also contribute to official development assistance (ODA). Austria reports these contributions to the Organisation for Economic Co-operation and Development (OECD). Its Development Assistance Committee (DAC) then decides which payments are actually eligible to count as ODA. The legal basis for Austrian Development Cooperation is the Federal Development Cooperation Act (DCA) adopted in 2002 and amended in 2003. It contains a speci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Austria)
The Ministry of Finance (german: Bundesministerium für Finanzen) is the government ministry of Austria responsible for the collection of taxes and customs as well as the administration of fiscal and economic policy. It oversees the Revenue Service, the Revenue Service for Large Businesses, the Financial Police, and various other agencies. It is headquartered in the Winter Palace of Prince Eugene, Vienna. The current Minister is Magnus Brunner. Structure and function The Ministry is responsible for revenue administration at the federal level, including the government budget, matters of finance concerning the European Union, taxes, duties and tariffs. It defines and conducts the country's budgetary policy concerning currency, credit, savings banks ( Sparkassen) and exchange matters, capital movements and settlement, insurance control and hallmarks. It is also concerned with economic policy, if not discharged by the Ministry of Economy. The Finance Minister and the G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vienna
en, Viennese , iso_code = AT-9 , registration_plate = W , postal_code_type = Postal code , postal_code = , timezone = CET , utc_offset = +1 , timezone_DST = CEST , utc_offset_DST = +2 , blank_name = Vehicle registration , blank_info = W , blank1_name = GDP , blank1_info = € 96.5 billion (2020) , blank2_name = GDP per capita , blank2_info = € 50,400 (2020) , blank_name_sec1 = HDI (2019) , blank_info_sec1 = 0.947 · 1st of 9 , blank3_name = Seats in the Federal Council , blank3_info = , blank_name_sec2 = GeoTLD , blank_info_sec2 = .wien , website = , footnotes = , image_blank_emblem = Wien logo.svg , blank_emblem_size = Vienna ( ; german: Wien ; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austria
Austria, , bar, Östareich officially the Republic of Austria, is a country in the southern part of Central Europe, lying in the Eastern Alps. It is a federation of nine states, one of which is the capital, Vienna, the most populous city and state. A landlocked country, Austria is bordered by Germany to the northwest, the Czech Republic to the north, Slovakia to the northeast, Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the west. The country occupies an area of and has a population of 9 million. Austria emerged from the remnants of the Eastern and Hungarian March at the end of the first millennium. Originally a margraviate of Bavaria, it developed into a duchy of the Holy Roman Empire in 1156 and was later made an archduchy in 1453. In the 16th century, Vienna began serving as the empire's administrative capital and Austria thus became the heartland of the Habsburg monarchy. After the dissolution of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the Sustainable Development Goals as well as environmental and social safeguards. , the World Bank is run by a president and 25 executive directors, as well as 29 various vic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
