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As market economies require a supporting infrastructure for information disclosure, CARANA continues to promote improved accountability and financial transparency under a USAID-funded activity in Europe and Eurasia. With partner DePaul University’s Center for Global Accounting Education Benchmarking and Research, CARANA developed a diagnostic tool for benchmarking and monitoring regional and country progress toward compliance with international standards.

Under the precursor activity, CARANA and its team of international evaluators developed a knowledge base of capability and competency of professional accounting bodies and the accounting profession in nine Balkan countries. Under the current activity, CARANA will help to restore public confidence in financial reporting and reduce corruption by closing capacity gaps that are best addressed within a regional framework supporting country-specific efforts to implement international financial reporting standards.

CARANA has had an active presence throughout Europe and Eurasia since 1993, specifically in Albania, Armenia, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Georgia, Kazakhstan, Kosovo, Kyrgyzstan, Macedonia, Moldova, Montenegro, Romania, Russia, Serbia, Slovakia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.