Bangladesh : Accounting and Auditing

World Bank

Washington, DC

关键词: ACCOUNTABILITY;    ACCOUNTING;    ACCOUNTING PERIOD;    ACCOUNTING PRACTICES;    ACCOUNTING PRINCIPLES;   

RP-ID  :  35016

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 ofaccounting and auditing practices within the broader contextof the Bangladesh institutional framework and capacityneeded to ensure the quality of corporate financialreporting. The accounting and auditing practices inBangladesh suffer from institutional weaknesses inregulation, compliance, and enforcement of standards andrules. The preparation of financial statements and conductof audits, in many cases, are not consistent withinternationally acceptable standards and practices.Better-qualified graduates generally do not join theaccounting profession because it is not viewed as astepping-stone to a rewarding and prestigious career. Theout-of-date legal requirements, widespread noncompliancewith accounting and auditing standards, ineffectiveenforcement mechanism, poor quality accounting education andtraining, and inadequate adherence to professional ethicshave contributed to the weakness of the financial reportingregime. The policy recommendations provided in this reportfocus on improving statutory framework, strengtheningenforcement mechanisms, upgrading professional education andtraining, and enhancing capacity of regulatory andprofessional bodies. A major recommendation is that anindependent oversight body-Financial ReportingCouncil-should be established. The Financial ReportingCouncil will be responsible for adopting, monitoring, andenforcing international accounting and auditing standardsfor financial reporting by the public-interest entities. Inaddition, arrangements will need to be made to develop asimplified financial reporting framework for small- andmedium-size enterprises.