Turkmenistan, Ashgabat, April 22 / Trend H. Hasanov /
On April 20, the U.S. Agency for International Development (USAID), in partnership with the Ministry of Finance of Turkmenistan, Chevron Nebitgaz B.V. Turkmenistan and the Union of Economists of Turkmenistan, completed a series of training courses in accounting and financial reporting for 215 accounting specialists from various ministries and agencies in Turkmenistan, the agency said.
These three-month-long courses are part of the Government of Turkmenistan's initiative to retrain chief accountants and other accounting specialists in ministries and state-owned enterprises in preparation for the implementation of new internationally-compliant national accounting standards in Turkmenistan starting from 2014, as set out in the national accounting and auditing reforms program approved by presidential decree in July 2010.
Addressing the participants at the certificate handover ceremony, USAID Country Director Andrew Segars noted that "the U.S. Government is delighted to be part of the current large-scale accounting reforms in Turkmenistan. This project is truly an example of how governments and the private sector can work together to meet developmental goals."
Nearly all of the course participants will sit for a professional certification exam on "Financial Accounting 1" on April 24; passing the exam will mark a big step towards these accountants' international certification. International certification means that these accountants from Turkmenistan will be on par with all IFRS-trained accountants worldwide, making it easier for Turkmenistan to do business and report reliable information to foreign investors and partners.
This initiative, implemented by the Economic Reforms to Enhance Competitiveness Project (EREC), is one of the many activities made possible by the American people through the United States Agency for International Development (USAID). Since 1992, the American people through USAID have provided over $90 million in programs that support Turkmenistan's economic growth, social sector, and community initiatives.