First Project Will Focus on Benchmarking International Standards of Transparency and Accountability in Southeastern Europe

DePaul University’s School of Accounting & MIS in Chicago and The Centre for Business Studies, Leiden University, The Netherlands, have created an international alliance to launch a European Union branch of DePaul’s Center for Global Accounting Education, Benchmarking and Research (CGAEBR).

CGAEBR was created in 2006 at DePaul as a legacy institution for carrying out the mission of a global accounting education and benchmarking pilot project sponsored by the United States Agency for International Development (USAID), Bureau for Europe and Eurasia. Its goal is to serve the public interest by promoting transparent and accountable global financial systems through international standards, rigorously and honestly applied, by professionals who have the requisite internationally recognized credentials. The DePaul-Leiden alliance will work to enhance transparency and accountability by supporting the advancement of the accountancy profession in transitional and developing countries, with a special focus on accountancy education, benchmarking and research.

The first DePaul-Leiden collaboration will provide technical assistance for a USAID-sponsored Benchmarking International Standards of Transparency and Accountability (BISTA) project. Designed to support the world-wide public interest mission of the International Federation of Accountants (IFAC), the BISTA project will accelerate international accounting standard compliance, strengthen the institutional capacities of professional accountancy bodies, and improve the capability and competency of public and private accountants and auditors.

Working first with regional and professional associations in southeastern Europe, Leiden and DePaul will collaborate with other universities on initiatives to improve the accounting profession, including benchmarking for accounting education and research. This alliance, facilitated by BISTA and its implementing partner, CARANA Corp., will create a sustainable model for mentoring partnerships among accounting organizations from advanced and developing countries to help the developing countries enhance their accounting profession. One goal is to help targeted nations close accounting compliance gaps to meet global standards set by IFAC, a New York-based organization representing more than 155 professional auditing, ethics and education bodies in 118 countries.

“Leiden’s Centre for Business Studies, a leading European and international research institution, is the ideal home for the European Union branch of CGAEBR,” said DePaul Accountancy Professor John Ahern, director of CGAEBR. “Both Leiden and DePaul are leading institutions and recognized centers of excellence in accounting education, benchmarking and research. This collaboration will support efforts to help transitional and developing countries build their economies by creating reliable financial accounting systems that track economic progress. Sound financial systems are the first steps toward nations’ attracting foreign capital, growing their economies and reducing poverty.”

Editors Note: For interviews, contact:

John T. Ahern, DePaul University: 312/362-6624 or jahern@depaul.edu

Gert H. Karreman, Leiden University: g.karreman@inter.nl.net

R. William Phelps, BISTA/CARANA Corp.: 703/243-1700 or bphelps@carana.com.