A presentation of an official translation of international standards of financial accounting for small and medium-sized entities was held at the RA Government. The translation was done with USAID sponsorship, under a pilot financial stabilization program in Armenia.

The application of international standards of financial accounting by Armenian organizations will make their financing accounting more reliable and transparent.

RA Minister of Finance Tigran Davtyan, USAID/Armenia Mission Director Jatinder Cheema and representatives of Armenian government agencies and international institutions spoke at the ceremony.

Minister Davtyan pointed out the importance of international standards of financing accounting for boosting confidence in Armenian companies, availability of international financial markets and, consequently, promotion of investments in Armenia. Mr. Jatinder Cheema pointed out that the application of international standards will enable local and foreign investors base their investment plans on economic entities transparent and reliable financial information.