STAR-Initiative (Strengthening Auditing and Reporting in the Eastern Partnership countries)
Countries of the Black-Sea/South-Caucasus area including Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine are faced with common challenges. They share the key development goals of economic diversification, an improved investment climate and the reduction of their costs of doing business, as well as strengthening financial sector and improving access to international markets.
Therefore the overall development goal of the program is to support the development of a market-based economy through enhanced corporate financial reporting standards and practices, providing investors, lenders, relevant public authorities and other users with accurate financial information for business and administrative decisions.
The proposed regional program is modeled after the current Road to Europe Program for Accounting Reform and Institutional Strengthening (REPARIS), which has been implemented since 2008 for the Western Balkan countries, and is based on a balanced mix of joint (regional) activities and in-country reform advice and capacity-development support that has been tested over time and has proven capable of yielding results.