Lessons Learned from the World Bank’s Accounting and Auditing ROSC Program

Hegarty, John ; Gielen, Fré ; dé ; ric ; Hirata Baros, Ana Cristina

World Bank, Washington, DC

关键词: ACCOUNT;    ACCOUNTANCY;    ACCOUNTANTS;    ACCOUNTING;    ACCOUNTING &;   

RP-ID  :  41953

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 paper addresses challenges to thesuccessful implementation of international accounting andauditing standards which have been observed by the WorldBank when carrying out the Report on the Observance ofStandards and Codes (ROSC) accounting and auditingassessments. It describes the ROSC program, outlines themethodological approach followed, identifies problems commonacross several jurisdictions, and makes suggestions forinitiatives that could enhance the implementation ofinternational standards. The ROSC results show thatgovernments have primarily concentrated on adoptinglegislation mandating or allowing the use of internationalstandards, and the private sector has sought to increase thecompetence of individuals and firms to apply internationalstandards. This paper provides an overview of the mainprogram of Bank diagnostic work in the field of privatesector financial reporting: (ROSC) It summarizes some of themain findings of the 38 assessments that have been carriedout to date, with specific reference to the challenges tothe successful implementation of international accountingand auditing standards. Attention is drawn to the need forinternational consensus on a comprehensive framework ofprinciples for the regulation of accounting and auditingthat also addresses issues of implementation, which is notcovered by existing international accounting and auditingstandards. The paper concludes by raising a number of otherissues to be discussed and resolved going forward, ifcountries are to receive the support they need tosuccessfully implement international standards and reaptheir full benefits.