DePaul University's College of Commerce has launched the Center for Global Accountancy Education, Benchmarking and Research, which will work to improve financial accounting in the developing world by policing three specific areas: international auditing standards, financial reporting and accounting education.The center will work closely with established international aid and development agencies, including the World Bank, the International Monetary Fund and the United States Agency for International Development.
In recent decades, the agencies have invested billions of dollars in the economies of the developing world, but frequently have been unable to determine whether investments yielded appropriate returns because of lax or non-existent accounting standards.
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