Supreme audit institutions (SAIs) recognize the benefits of using technology to improve the quality and impact of their audits. This benefit has further intensified during the COVID-19 pandemic; SAIs with existing technology capacity have continued to perform their role effectively and...

Cambodia has achieved remarkable economic development and political stabilization in recent years. Continuous high growth has heightened demand for high quality financial reporting and auditing in the corporate sector and in the government sector. This report on the observance of standards and...

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...

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...