Reports on the Observance of Standards and Codes - ROSC
As part of the Reports on the Observance of Standards and Codes (ROSC) initiative, the World Bank has established a program to assist its member countries in implementing international accounting and auditing standards for strengthening the financial reporting regime. The objectives of this program are two-fold:
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Analyze comparability of national accounting and auditing standards with international standards, determine the degree with which applicable accounting and auditing standards are complied, and assess strengths and weaknesses of th e institutional framework in supporting high-quality financial reporting.
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Assist the country in developing and implementing a country action plan for improving institutional capacity with a view to strengthening the country’s corporate financial reporting regime.
The World Bank conducts reviews of accounting and auditing within the ROSC initiative at the invitation of a country. The World Bank utilizes a diagnostic tool that it developed to gather pertinent information for preparing the Accounting and Auditing ROSC. The ROSC team works closely with stakeholders and makes recommendations that can lead to a country action plan. The World Bank publishes the ROSC report on this Website with permission of the country authorities.Â
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