WB VOWS TO RAISE CORPORATE MANAGEMENT TRANSPARENCY IN ARMENIA
ARKA
June 17, 2009
YEREVAN, June 17. /ARKA/. The World Bank stands ready to help Armenia
boost corporate management transparency, Head of the WV Yerevan Office
Aristomene Varoudakis was quoted as saying at the Wednesday conference
on accounting and auditing rules.
The bank has completed working on the accounting and auditing standards
report in Armenia by collaborating with the RA government in gathering
information.
Varoudakis expressed a hope that the report would add more transparency
to corporate management in Armenia. He stressed the importance
of effective and transparent corporate management in fostering
small-to-medium-sized businesses and ensuring economic stability.
According to Varoudakis, effective accounting and auditing enable
investors to assess business prospects, increasing the trustworthiness
of the country.
He stressed that Armenia could attract more investments from the
Diaspora with the help of transparent accounting and auditing, as well
as fight corruption, bringing to minimum the intercourse between tax
agents and private enterprises.
A conference on accounting and auditing rules opened today in Yerevan
ion the initiative of the RA Ministry of Finance and the WB Yerevan
Office.
During the event, the World Bank will submit a report on accounting
and auditing standards in Armenia.