Author: Francis B. NarayanPublisher:
ISBN: 9789715614665
Category : Business & Economics
Languages : en
Pages : 178
Book Description
Diagnostic Study of Accounting and Auditing Practices in Sri Lanka
Author: Francis B. NarayanPublisher:
ISBN: 9789715614665
Category : Business & Economics
Languages : en
Pages : 178
Book Description
Diagnostic Study of Accounting and Auditing Practices in Selected Developing Member Countries
Author: Francis B. NarayanPublisher:
ISBN: 9789715614672
Category : Business & Economics
Languages : en
Pages : 178
Book Description
Consolidating the results of a study conducted in four developing member countries--the Republic of Azerbaijan, the Republic of Fiji Islands, the Republic of the Marshall Islands, and Sri Lanka--this book summarizes the major findings of the diagnostic study on available accounting and auditing support contained in the four country reports and provides recommendations and action plans to address identified weaknesses. These reports offer reference materials on accounting and auditing, identify potential actions that the participating governments or the accounting profession can take to rectify weaknesses, and provide the participating countries with a benchmark against which to measure their progress in improving financial management and governance arrangements.
Diagnostic Study of Accounting and Auditing Practices in the Marshall Islands
Author: Francis B. NarayanPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 176
Book Description
This book consolidates the results of a study conducted in four DMCs--Azerbaijan, Fiji Islands, Marshall Islands, and Sri Lanka. It summarizes the major findings of the diagnostic study on available accounting and auditing support contained in the four country reports and provides recommendations and an action plan to address identified weaknesses.
Diagnostic Study of Accounting and Auditing Practices in Azerbaijan
Author: Francis B. NarayanPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 140
Book Description
Diagnostic Study of Accounting and Auditing Practices in the Republic of the Fiji Islands
Author: Francis B. NarayanPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 170
Book Description
Diagnostic Study of Accounting and Auditing Practices in Indonesia
Author: Barry ReidTechnical assistance for the diagnostic study on accounting and auditing practices in selected developing member countries
Author: Asian Development BankPublisher:
ISBN:
Category :
Languages : es
Pages : 10
Book Description
Technical Assistance for the Diagnostic Study on Accounting and Auditing Practices in Selected Developing Member Countries
Author: Sri Lanka Report on the Observance of Standards and Codes
Author: WeltbankgruppePublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
The Report on the Observance of Standards and Codes, Accounting and Auditing (ROSC AA) in Sri Lanka aims to assess the progress made on implementation of the policy recommendations of the first ROSC AA in 2004 and supports the Government of Sri Lanka in preparing a country action plan. This will further enhance the quality of corporate financial reporting, and thereby contribute toward the country's goal of improving the investment climate, attracting foreign direct investment (FDI), and fostering business development. The ROSC review, requested by the Minister of Finance and Planning, entailed an evaluation exercise that assesses the strengths and weaknesses of existing institutional frameworks that underpin financial accounting and auditing practices; determines the comparability of national accounting and auditing standards; and evaluates the effectiveness of enforcement mechanisms for ensuring compliance with existing national standards, rules, and regulations. The review was conducted from December 2013 to September 2014 using the World Bank's multi-layered review methodology. All findings reflect this time period of the review; some stated future events may have been achieved by publication date. The data and information used for the review was gathered from a diagnostic questionnaire completed by stakeholders; by reviewing accountancy profession-related documents; and through interviews with many stakeholders from government, regulatory and accountancy bodies, accounting and auditing firms, banks, insurance companies, state-owned enterprises (SOEs), small and medium-size enterprises (SMEs), and academia. The review focused on assessing the institutional framework underpinning accounting and auditing practices in the private sector and in SOEs of the country in comparison with international standards and good practice.
Sri Lanka
Author: WeltbankPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Sri Lanka has made considerable efforts in aligning its accounting and auditing practices with international standards to establish a high-quality corporate financial reporting system. Corporate accounting and disclosure practices, particularly for publicly traded companies, have improved over the past decade. Among forward-looking actions has been the enactment of the Sri Lanka Accounting and Auditing Standards Act and establishment of the Sri Lanka Accounting and Auditing Standards Monitoring Board. However, there appears to be a certain degree of noncompliance in both accounting and auditing practices, resulting mainly from weak enforcement. The weakness is primarily attributed to inadequate regulatory capacity. This report provides an appraisal of the accounting and auditing practices within a broader context of the Sri Lanka institutional framework, and the capacity needed to ensure high-quality corporate financial reporting. Building on past achievements, comprehensive efforts are necessary for strengthening the capacity of regulators, and ensuring effective coordination. Also, there is an urgent need for a system of independent oversight of the audit profession that will protect public interest. This report provides a wide range of policy recommendations focusing on building regulatory capacity, strengthening enforcement mechanisms, initiating legal reforms, undertaking awareness programs for shareholders and top management, urging compliance with guidelines of the International Federation of Accountant, improving education and training, introducing independent oversight of the audit profession, strengthening the professional association, publicizing more widely the enforcement actions against non-compliances, upgrading the licensing procedures for accountants and practicing auditors, and, disclosing audit and non-audit fees separately. These recommendations are expected to provide inputs for designing a country action plan that will further improve the accounting and auditing regime of Sri Lanka.