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New accountancy project for the World Bank
Partnership PUM and NBA taking root
The World Bank contracted PUM and the The Royal Netherlands Institute of Chartered Accountants (NBA) for the third time in order to take accountancy firms and audits, this time in Kosovo, to a higher level. The same cooperation took place earlier in the Philippines, Cambodia and Mongolia. PUM and the World Bank support the improvement of audit quality for accountancy firms.
A high quality audit system leads to a stable financial climate and repels miscalculations, misleading and corruption.
The International Federation of Accountants (IFAC) practices a series of quality standards which are recognized by accountancy firms around the world. The aim of the cooperation between PUM and the World Bank is to help the national accountancy organization in Kosovo to apply the first standard stated by the IFAC. If accountancy firms in Kosovo manage to implement all seven of the IFAC standards, they achieve an IFAC full membership which is recognized and highly valued globally.
Highly qualified PUM experts are selected to assist Kosovarian audit and accountancy firms, filling the gap between theoretical requirements of IFAC and the practical application in Kosovo.