Report on the Observance of Standards and Codes, Accounting and Auditing : Module B - Institutional Framework for Corporate Financial Reporting, B.1 Commercial Enterprises (including SMEs)

World Bank

World Bank, Washington, DC

关键词: international financial reporting standards;    accounting;    auditing;    international accounting standards;    SME;   

RP-ID  :  113014

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The purpose of this report is to gain anunderstanding of the general financial reporting and auditrequirements for commercial enterprises in a jurisdiction asestablished by law or other regulation (for example,companies’ act). Commercial enterprises are defined ascompanies established with a profit-making objective that donot issue equity and debt on a public exchange, are notfinancial institutions (such as banks or insurancecompanies), and are not owned and controlled by the state.The definition of commercial enterprises also includes smalland medium sized enterprises (SMEs). The focus of thisreport is commercial enterprises with limitations ofliability, such as limited liability companies (LLCs) andjoint stock companies. The report is structured as follows:statutory framework; financial reporting requirements forcommercial enterprises; statutory audit and other forms ofindependent assurance; audit committees; filing andpublication of financial statements; monitoring andenforcement: financial reporting; and corporate governance.