The second Report on the observance ofstandards and codes (ROSC) Accounting and Auditing (A&A)review in Mauritius aims to determine what reforms should beundertaken to further strengthen the accountancyinstitutional framework that is critical in contributing tothe country's economic growth. In 2010, the Governmentof Mauritius invited the World Bank to conduct thisfollow-up review. The first ROSC A&A was carried out in2003. The new review establishes the extent ofimplementation of the 2003 policy recommendations and alsoidentifies emerging strengths and weaknesses ininstitutional framework that underpin accounting andauditing practices that influence the quality of financialreporting. Further policy recommendations in this ROSCaddress the identified systematic weaknesses. Ultimately, ifimplemented, the recommendations would improve corporatefinancial reporting that will enhance Mauritius'business environment and advance its governance andfinancial accountability both key contributors to improvinginvestor confidence and attracting investments. The ROSCA&A review team used a diagnostic template developed bythe World Bank to facilitate collection of data. The datawas complemented by the findings of a due diligence exerciseobtained by the team during a series of meetings held withkey stakeholders. During the meetings, the team alsoobtained information on the status of implementation of 2003recommendations. A National steering committee comprisingrepresentatives of stakeholders in the accounting andauditing community in Mauritius supported the ROSC team.
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