On March 5, a workshop on reforms in the spheres of accounting and audit took place led by Vardan Aramyan, RA Minister of Finance, and Sylvie Bossoutrot, Country Manager of the World Bank for Armenia.
The RA Finance Minister Vardan Aramyan expressed his appreciation to the World Bank and the team which has always supported the implementation of similar reforms in Armenia. “This workshop and this kind of platforms are important to us. We are able to exchange ideas, present what direction we are going, what challenges exist, and what are the common visions we have with the World Bank”, - said Aramyan.
The Minister underlined that since 2017, the sphere of accounting and financial accountability has been considered a priority issue by the Government of Armenia and especially by the Ministry of Finance, and the Government, targeting particularly the exporting sector, always supports those companies that are eager to become more competitive and appear in the world platforms.
Vardan Aramyan also pointed out the key directions of sector reforms, in compliance with the international requirements: updated, modern legislation corresponding to international standards; improved educational systems in the field of audit, availability of qualifying systems in line with international criteria.
According to Sylvie Bossoutrot, Country Manager of the World Bank for Armenia, such events help to increase the knowledge of the participants on the role and function of public oversight in auditing, as well as to familiarize themselves with international practice and the activities of specialized accounting organizations in the field of audit. “We are ready to support the awareness raising campaign, which will result in a dialogue between the government and other interested parties, due to the adoption of a new law on accounting, audit and public oversight”, - said the WB Armenia Country Manager.
According to the RA Deputy Minister of Finance David Ananyan, such platforms provide a good opportunity to reveal existing problems in the field and possible ways of their solution as a result of professional discussion, as well as an attempt is made to introduce competitive accountability systems with proper financial management in line with the EU Directive and European standards in the field of accounting and audit.
Karen Alaverdyan, Head of Public Sector Accounting Methodology and Reporting Monitoring Department of the Staff of the RA Ministry of Finance, and Jon Hooper, International Consultant, World Bank Representative delivered speeches at the workshop. At the end of the workshop a thematic discussion on the role of financial accountability and audit in Armenia's economic development took place as well.
