Since 2003, the Philippines have been striving to implement reforms aimed at improving audit quality. Oversight of the audit profession is a key control over the financial reporting architecture of a country's private sector. A Quality Assurance Review system over audit practitioners is a subset...

This report reflects significant changes in European Union (EU) corporate financial reporting since 2011. In June 2013, a new accounting directive was adopted, replacing the fourth and seventh directives on company law. A directive amending the 2006 audit directive and a new audit regulation...

The 2008 financial crisis highlighted weaknesses in the risk management, control and governance processes of banks as well as in their statutory audit and financial supervision. This led to increased scrutiny of the respective roles and interactions of banking supervisors and external auditors...

Reports on the Observance of Standards and Codes Accounting and Auditing ('ROSC A&A') assess financial reporting and auditing standards, institutions and practices in participating countries. These reports form part of a joint initiative implemented by the World Bank and the International...

The government of Zambia is implementing the seventh National Development Plan (NDP) focused on building a diversified and resilient economy for sustained growth and social economic development (2017 - 2021). This second Zambia report on the Observance of Standards and Codes - Accounting and...

The purpose of this knowledge paper focusing on key accounting and auditing reforms is to assist the government to make informed decisions for future reform actions following the publication of the Macedonian Report on the Observance of Standards and Codes (ROSC) on Accounting and Auditing (A...

A wave of accounting scandals beginning about fifteen years ago, including Enron, WorldCom, and Parmalat, created a consensus among policymakers across the globe that independent auditors were not adequately challenging the financial reporting by their clients and could not be trusted to...

Reports on the Observance of Standards and Codes Accounting and Auditing ('ROSC AandA') assessfinancial reporting and auditing standards, institutions and practices in participating countries.These reports form part of a joint initiative implemented by the World Bank and the...

Reports on the Observance of Standards and Codes Accounting and Auditing ('ROSC AandA') assessfinancial reporting and auditing standards, institutions and practices in participating countries.These reports form part of a joint initiative implemented by the World Bank and the...

The World Bank has been collaborating with finance, budget, and public accounts committees in the Western Balkans as part of a knowledge partnership focusing on strengthening financial oversight practices. Despite some gains in external auditing performance, the region continues to underperform...