Yerevan, December 3 /Mediamax/. Ministry of Finance and Economy of Armenia is carrying out a program on reformation of the sphere of business accounting, which is aimed at securing its correspondence with international standards.

As Mediamax was told in the press service of the Ministry of Finance and Economy, within the framework of the program, official translation of international standards of financial accounting will be realized, which will allow by means of legislative changes securing the correspondence of standards functioning in Armenia with the international requirements.

Prior to the start of translation work, there was the corresponding agreement signed between the Ministry of Finance and Economy of Armenia and the International Accounting Standards Board (IASB/IASCF).

In the process of realization of the program, the Ministry of Finance and Economy of Armenia is also cooperating with the U.S. Agency for International Development (USAID).