ROSC A&A Diagnostic Tool – Part III: Review of Actual Compliance with IFRS

Jun 01, 2008 | The World Bank | The World Bank
The purpose of Part 3 of the diagnostic tool is to assess whether statutory financial statements comply with the Standards that they purport to comply with (National Standards or IFRS). Part 3 includes a questionnaire which is designed to provide information about the extent to which statutory financial statements which purport to comply with IFRS do, in practice, comply with IFRS. Separate questionnaires should be completed for each entity covered by the ROSC A&A assessment that presents statutory financial statements that purport to comply with IFRS. The questionnaire may need to be modified to deal with different types of entities, in particular banks, insurance entities and other financial institutions. It may also need to deal separately with legal entity and consolidated financial statements.