Mozambique Report on the Observance of Standards and Codes : Accounting and Auditing

World Bank

World Bank, Washington, DC

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

RP-ID  :  110657

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This report provides an assessment ofthe strengths and weaknesses of the existing financialreporting infrastructure that underpins financial accountingand auditing practices in Mozambique. The assessment focuseson six pillars of financial reporting infrastructure:statutory framework, professional education and training,accountancy profession, accounting standards, auditingstandards, and monitoring and enforcement of the applicablestandards. The main purpose of this assessment is to assistthe development and implementation of a country action planfor strengthening institutional capacity with attendanteffect on enhancing corporate financial reporting inMozambique. All the corporate entities in Mozambique,including investments with foreign participation, areaffected by a serious shortage of qualified accountants andtrained accounting technicians. Best estimates are thatthere are less than 50 fully qualified accountants workingin Mozambique (mostly in the Maputo area), and that of theseonly 2 are citizens of Mozambique. Most of the corporatefinancial statements in the country are therefore preparedby accounting technicians whose level of skill and trainingis variable. At one extreme, a limited number of accountingtechnicians have completed training, which has not preparedthem nearly at the level of a qualified accountant; and atanother extreme, many technicians have no formal training.Most of the financial statement audits in the country areprimarily carried out by representatives of the 6international networks. The lack of senior-level local staffwithin those networks is of concern particularly asregulators lack any capacity to monitor the quality offinancial reporting.