Kingdom of Morocco : Accounting and Auditing

World Bank

Washington, DC

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

RP-ID  :  30147

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 ofMoroccan accounting and auditing standards and practices,and the institutional capacity necessary to ensurehigh-quality financial reporting. The law gives accountingstandard-setting responsibility to the National AccountingCouncil (Conseil National de la Comptabilité). Since theCouncil was established in 1989, Moroccan accountingstandards have improved greatly. However, further progressis impeded by weaknesses in the accounting standard-settingprocess and, more so, by implementation issues. The BankAl-Maghrib, Insurance and Social Welfare Directorate(Direction des Assurances et de la Prévoyance Sociales), andSecurities Commission (Conseil Déontologique des ValeursMobilières) are responsible for monitoring the quality offinancial information and the enforcement of accountingstandards for credit institutions, insurance companies, andlisted companies, respectively. While the Bank Al-Maghribhas established an institutional framework for bankmonitoring that is more advanced than that of other sectors,the overall design and implementation of the threesupervisory frameworks need improvement. The legislativeframework for the Moroccan accounting profession isadequate. However, significant implementation issues exist,such as the absence of a quality assurance system and thelack of continuing professional education. Moroccan auditingstandards are largely inspired by the InternationalStandards on Auditing (IAS).However, the omission of certainstandards weakens the Moroccan auditing framework. The largenumber of chartered accountants that do not even observeMoroccan auditing standards exacerbates this issue. Whilefinancial statements in Morocco generally include most ofthe information necessary to analyze the financial status ofa company, certain lesser disclosure standards as comparedto the IAS reduce the usefulness and transparency ofMoroccan financial reports. Moreover, financial informationis not readily available, as the mechanisms to publishstatements are inefficient. The policy recommendations inthis report focus on strengthening the enforcement ofestablished accounting and auditing requirements, as well assupporting the initiatives that Morocco has beenimplementing over the last ten years.