Title:Corporate Financial Reporting Enhancement Project (CFREP) - Strengthening the Capacity of the National Accounting Council
Budget:241,287 EUR
Dates: June, 2012 - June, 2013
Partner: Grant Thornton Consulting, Macedonia
Funding:World Bank

The Corporate Financial Reporting Enhancement Project (CFREP), which was launched by the Government of Albania in April 2011, seeks to support the first three year phase of implementation of the Country Action Plan to Enhance Corporate Financial Reporting in Albania (CAP), in the context of an integrated programmatic approach to support improving financial reporting in Albania. This particular project was contracted to cover the second component of the CFREP, the objective of which is to strengthen the Capacity of the National Accounting Council (NAC) responsible for developing accounting standards in Albania. The overall aim is to enhance the standard setting process of the NAC through improving its transparency and broader participation of stakeholders and to create sustainable mechanisms for IFRS adoption, translation updates, as part of the process of endorsing IFRS for use in Albania.