Reform of accountancy within Serbia's public sector begins
The funds of CHF 1,350,000 have been donated by the Swiss government with the aim of enhancing the quality of accountancy and financial reporting within the public sector in Serbia through a gradual transfer to accrual-based accounting, says a press release by the World Bank, which will administrate the project and provide support to the Ministry of Finance in its implementation.
As a result, budget reporting will include, in addition to budget income and expenditures, reliable data on the property, liabilities and debts, thereby contributing to an improvement of budget funds management.
The presentation of the project was attended by Swiss Ambassador Philippe Guex and the head of the WB office in Serbia, Stephen Ndegwa.
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