Moldova Accounting Reform
EWMI has been integral in assisting Moldova in its transition to international accounting and auditing practices.EWMI’s accounting reform efforts in Moldova started in 1998, through the Moldova Accounting Reform Project (MARP) when EWMI: (i) assisted the Moldova government in drafting and implementing new accounting and auditing standards based on the International Accounting Standards (IAS) and International Standards of Audit (ISA); (ii) assisted in the conversion of Moldovan accounting systems from statutory accounting to the newly adopted accounting standards; (iii) developed and strengthened a self-regulatory organization (SRO) to promote accounting and auditing principles; and (iv) insured long-term professional capacity by developing and implementing new accounting curriculums at institutions of higher learning.
The Moldova Financial Management Training and Advisory Activity (FMTAA) continued and further extended the reform efforts initiated under MARP, by expanding into more specific financial and managerial accounting training and advisory services, reaching out to a broader base of enterprise managers, business managers, accountants and auditors across the various sectors. Some of EWMI’s accomplishments include: (i) the establishment of a financial management training and advisory facility in Chisinau; (ii) training in financial accounting, managerial accounting, audit engagements practices, internal audit, non-profit accounting, and accounting information systems to enterprise managers, non-profit financial managers and higher educational institutions’ faculty members, accountants and auditors; (iii) promotion of accounting information technology; and (iv) development and establishment of an accounting certification program overseen by the Association of Professional Accountants and Auditors of the Republic of Moldova (ACAP).
Finally, as part of its overall efforts to support accounting and auditing reform in Moldova, EWMI financed the translation and publication of accounting and auditing textbooks into Romanian for distribution at institutions of higher learning.