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

World Bank Group

World Bank, Washington, DC

关键词: ACCOUNT;    ACCOUNTABILITY;    ACCOUNTANTS;    ACCOUNTING;    ACCOUNTING CURRICULUM;   

RP-ID  :  31114

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Financial reporting and auditingpractices in Moldova's corporate sector are currentlyin a period of transition from providing for tax calculationand statistical needs to convergence with InternationalFinancial Reporting Standards (IFRS) and InternationalStandards on Auditing (ISA). This report draws upon recentinternational experience in developed economies and EUaccession countries as well as expected amendments to EUDirectives. The National Accounting Standards (NAS) weredeveloped on the basis of International Accounting Standards(IAS) from 1996 to 1998 for the most part, but they aresubstantially incomplete and out of date vis-à-vis IFRS(which incorporate IAS). Accordingly, the standard-settingprocess should be streamlined so as to allow the promptadoption of the numerous existing IASs not yet reflected inthe NAS. The National Standards of Auditing were developedrecently and mirror ISA. The existing Accounting Law andcertain aspects of the Joint Stock Companies Law are undulyonerous and restrictive in that they demand bookkeeping andother administrative procedures not normally required inmarket economy systems. These conflict with mandatedaccounting standards, confuse the preparers of financialstatements and are detrimental to the quality of thefinancial information. A new Accounting Law should be passedwith simplified requirements and incorporating key elementsof the NAS and relevant EU Directives on that matter.