A high-level guide on the benefits of accruals based Public Sector Accounting developed under the PULSAR program. The guide serves as an instrument to support clients in their outreach and dialogue to raise awareness of the advantages of accrual accounting adoption.
The guide supports transitioning accounting education, training, and certification from a knowledge-based approach to a competency-based approach. Underlying this shift is the expanding expectation for accountants to professional judgment in response to greater transaction complexity, interconnectedness of entities, and broader global influences.
A key goal of independent oversight is to provide relevant and reliable information to investors, lenders, audit committees, regulators, other stakeholders, and the general public about auditors and the audit market, among other matters.
The purpose of this Knowledge Paper focusing on Key Accounting and Auditing Reforms is to assist the Macedonian Government to make informed decisions for future reform actions following the publication of the Macedonian Report on the Observance of Standards and Codes (ROSC) on Accounting and Auditing (A&A) in 2014.
The Agreed-Upon Procedure (AUP) engagement can be used in a variety of circumstances that involve both financial and non-financial information engagements and cover public and private sector entities. More recently, due to the increasing audit thresholds for smaller entities, the AUP engagement may affect the demand of stakeholders seeking alternatives to audit, such as lenders, and because of the flexibility this type of engagement offers, it can be tailored to different circumstances and focused on individual items of financial data.
The Accounting Market Study has been designed to provide relevant information for multiple uses, including the gathering of statistics for IFAC. It also offers quantitative information and feedback on aspects of the functioning of the accounting market to enable better understanding of the market for regulatory purposes.
This special edition of “Connecting Voices” was published to coincide with the World Bank Centre for Financial Reporting Reform’s (CFRR) Ministerial Conference in Vienna on 27 April 2016. The theme of the magazine, Financial Information: Catalyst for Growth, is reflected in its articles and interviews, which focus on the importance of timely, reliable, and transparent financial information as a driver and contributor of sustainable economic growth.
This study is available in English and Polish. It assesses the current regulations and practices related to accounting vouchers and bookkeeping in Poland, including cross-cutting tax regulations, and compares them with selected EU countries (France, Germany and UK). The study was undertaken at the request of the Polish Ministry of Finance, and funded under the Financial Reporting Technical Assistance Program (FRTAP) by a grant from Switzerland through the Swiss Contribution to the Enlarged European Union.
An introduction into Austria’s corporate financial reporting environment, with a particular focus on SMEs and specific features of the Austrian environment, intended for policy makers, regulators and practitioners looking for examples of how to formulate or implement the corporate financial reporting elements of the EU acquis communautaire.
Small and medium-sized enterprises (SMEs) play a particularly important role in the Austrian economy, with commercial banks acting as their main sources of external finance. As SMEs are also very important in the REPARIS countries, analyzing how SMEs and their banks view the operation of financial reporting in Austria could produce some useful pointers for the design of financial reporting frameworks in the REPARIS countries.