Statutory audit

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.

Article by Jarret Decker,Senior Financial Management Specialist of the World Bank Centre for Financial Reporting Reform, on audit and public oversight in Ukraine as published in the Professional Accountant's School, Issue #1 (156) for January-February 2015.

This Country Strategy and Action Plan (CSAP) published in November 2014 sets out a comprehensive short to medium term reform program for corporate financial reporting in the Republic of Armenia.

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.

This note was prepared as part of the Financial Sector Assessment Program (FSAP) and was made public in January 2016. Its main objective is to describe the status and recent developments in corporate financial reporting framework in Montenegro and highlight key issues relevant to financial sector. The note represents a technical annex to the main FSAP Aide-Memoire and seeks to provide a high-level overview of developments since the 2007 A&A ROSC2, as well as highlight the areas that are most relevant to the financial sector.

Public oversight of audits and auditors is a relatively recent development, particularly in light of the length of time that capital markets and the audit profession have operated. This paper reflects on the rationale for public oversight of auditors, summarizes the relevant EU legislation and international benchmarks for public oversight systems, and thereafter compares and contrasts the different approaches taken by EU member states to operate their public oversight systems.