ROSC A&A Diagnostic Tool – Part I: Review of the Accounting and Auditing Environment

Jun 01, 2008 | The World Bank | The World Bank
As part of the Reports on the Observance of Standards and Codes (ROSC) initiative, the World Bank conducts the Review of Accounting and Auditing (A&A) Practices. This review assesses the comparability of national accounting and auditing standards with International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISAs), respectively, and the degree of actual compliance with the standards applicable to the Statutory Financial Statements of business entities. The World Bank has developed a diagnostic tool with four parts to support the review. The responses to the diagnostic tool are supplemented by a due diligence exercise by members of the World Bank ROSC-A&A team. This first part of the diagnostic tool seeks to provide an overview of the accounting and auditing environment in the country.