The University of Paisley has won a prestigious в'¬1,499,300 contract from the European Commission which will see the implementation of International Financial Reporting Standards to entrepreneurial businesses in Azerbaijan, Trend reports.
This project, which is being funded by the European Commission, under the TACIS (Technical Assistance in Commonwealth of Independent States) programme, saw the University winning the tender in the face of major competition from a number of leading European organisations.
Good governance, accountability and a strengthened market economy are prerequisites for reducing poverty and for the development of Azerbaijan and this project is one of the key components of the TACIS assistance in this area.
This work follows a successful в'¬1.1 million European Commission-funded consultancy project by the University, and two projects on behalf of the World Bank. These projects saw the development of the countrys financial structures to enable the implementation of International Financial Reporting Standards.
This new consultancy project is being headed-up by Ian Ritchie and Ian Fleming of the University of Paisleys Centre for International Corporate Governance and Accounting (CICGA).