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Lessons Learned from the World Bank’s Accounting and Auditing ROSC Program

Report | 2014

This paper addresses challenges to the successful implementation of international accounting and auditing standards which have been observed by the World Bank when carrying out the Report on the Observance of Standards and Codes (ROSC) accounting and auditing assessments.

Three of eight lessons learned (from the executive summary):

Focus Areas

Macedonia Accounting and Auditing Report on the Observance of Standards and Codes

A&A ROSC | 2014

The World Bank conducted reviews of accounting and auditing within the ROSC initiative at the invitation of FYR Macedonia. The World Bank utilized a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC.

Focus Areas

Review of Polish and International Accounting Standards in Scope of Financial Instruments

Publication | 2014

This report is available in both English and Polish and contains an analysis of domestic and international accounting standards applicable to financial instruments. It also features a review of literature available on the subject as well as practical information and case studies. In conclusion, the report proposes enhancements to existing legislation to ensure compliance with EU laws and regulations, in particular with Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements.

Focus Areas

Slovenia Accounting and Auditing Report on the Observance of Standards and Codes

A&A ROSC | 2014

The World Bank conducted reviews of accounting and auditing within the ROSC initiative at the invitation of Slovenia. The World Bank utilized a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC.

Focus Areas

Czech Republic Accounting and Auditing Report on the Observance of Standards and Codes

A&A ROSC | 2013

The World Bank conducted reviews of accounting and auditing within the ROSC initiative at the invitation of Czech Republic. The World Bank utilized a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC.

Focus Areas

Moldova Accounting and Auditing Report on the Observance of Standards and Codes

A&A ROSC | 2013

The World Bank conducted reviews of accounting and auditing within the ROSC initiative at the invitation of Moldova. The World Bank utilized a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC.

Focus Areas

Poland Accounting and Auditing Report on the Observance of Standards and Codes

A&A ROSC | 2013

The World Bank conducted reviews of accounting and auditing within the ROSC initiative at the invitation of Poland. The World Bank utilized a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC.

Focus Areas

Kosovo Accounting and Auditing Report on the Observance of Standards and Codes

A&A ROSC | 2012

The World Bank conducted reviews of accounting and auditing within the ROSC initiative at the invitation of Kosovo. The World Bank utilized a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC.

Focus Areas

Accounting for Growth in Latin America and the Caribbean: Improving Corporate Financial Reporting to Support Regional Economic Development

Publication | 2010

The drive to improve frameworks for financial reporting is not unique to Europe. A World Bank study surveys the results of the efforts to improve the quality of financial reporting in Latin America and the Caribbean (LAC) and finds many similarities between Europe and Latin America in the main challenges facing effective reform.

Focus Areas

Bosnia and Herzegovina Accounting and Auditing Report on the Observance of Standards and Codes

A&A ROSC | 2010

The World Bank conducted reviews of accounting and auditing within the ROSC initiative at the invitation of Bosnia and Herzegovina. The World Bank utilized a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC.

Focus Areas