Report on the Observance of Standards and Codes, Accounting and Auditing : Module A - Accounting and Auditing Standards, A.1 Financial Reporting Standards Analysis

World Bank

World Bank, Washington, DC

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

RP-ID  :  113011

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 quality of financial reportingdepends to a great extent on the quality of the Accountingand Auditing (A&A) standards on which the reporting isbased. Accounting standards are seen as a critical languageof business. In countries seeking to improve their businessenvironment to attract foreign direct investment andmobilize savings and finance to support productive andjob-creating activities, if national accounting standardsdiffer significantly from the increasingly universalinternational benchmark, International Financial ReportingStandards (IFRS), it becomes difficult for foreign investorsto understand the financial reports of domestic companies,thus potentially hampering investment and growth. Theobjective of the financial reporting standards analysis isto compare national financial reporting standards (orgenerally accepted accounting principles - national (GAAP)with IFRS with a view to capturing significant differences(where applicable) in order to provide: (a) readers with aclear sense of where key areas of divergence lie, and (b)country counterparts with concrete suggestions for improvingnational GAAP and aligning them to the extent possible with IFRS.