USAID, Turkmenistan Take Another Step Towards Meeting International Financial Reporting Standards

PAS No 245
June 11, 2009

Book Cover: International Financial Reporting Standards

Ashgabat, June 11, 2009 – This week, the United States, through the U.S. Agency for International Development (USAID), took another step in support of Turkmenistan’s effort to meet international standards.  USAID presented 78 bound copies of the official Russian translation of the International Financial Reporting Standards (IFRS) to the Supreme Council on Science and Technology (SCST) under the President of Turkmenistan.  Copies will be distributed to the Parliament, the Ministries of Foreign Affairs, Economics, and Finance, as well as to other state agencies in the economic sector.  Additional copies will be provided to private training centers, NGOs and international organizations working on accounting reforms.

The Eurasian Council of Certified Accountants and Auditors prepared the official translation and the International Accounting Standards Committee Foundation reviewed the document for accuracy.  The document will be disseminated by the IFRS Training Center, opened by USAID and SCST earlier this year.  The center supports business education in Turkmenistan by integrating the Certified Accounting Practitioner (CAP) qualification from the Certified International Professional Accountant (CIPA) program into Turkmenistan’s University curriculum.

This activity is one of the many activities made possible by the American people through the U.S. Agency for International Development in Turkmenistan.  Since 1993, the American people through USAID have provided more than $80 million in programs that support Turkmenistan’s economic growth, social sector, and community initiatives.