In December 1999, the OECD in co-operation with USAID helped establish the South Eastern European Partnership on Accountancy Development (SEEPAD - www.seepad.org), a regional accountancy reform initiative consisting of the principle accounting and/or audit associations in South Eastern Europe. This accountancy reform initiative has rapidly gained international recognition and was recently selected as a regional flagship initiative under the Stability Pact, Working Table II, " South East Europe Compact for Reform, Investment, Integrity and Growth". International organisations participating in the initiative include UNCTAD, the World Bank, International Accounting Standards Board (IASB) www.iasc.org.uk and International Federation of Accountants (IFAC) www.ifac.org.OECD Member country professional organisations include la Compagnie Nationale des Commissaires aux Comptes (CNCC) / le Conseil Supérieur de l'Ordre des Experts Comptables (CSOEC), and the Institute of Certified Public Accountants of Greece.
SEEPAD aims to create sound corporate governance, financial disclosure and accountancy regimes; develop and strengthen the accounting and audit profession in SEE through sustainable self-regulatory associations; lower trade and investment barriers by harmonising accounting and audit practices in the region; and integrate the SEE profession into the European Union and international community, through organisations such as the Fédération des Experts Comptables Européens (FEE).
SEEPAD held its first General Assembly meeting as a formally constituted body in Bucharest Romania on 19-20 June 2002. Following the successful constitution of this body, the OECD is no longer directly involved in the work of this organisation.
More information on SEEPAD can be found at www.seepad.org