Nigeria : Accounting and Auditing

This report finds that there has been limited implementation of the 2004 Country Action Plan and limited improvement in financial reporting practices in Nigeria. Nigerian authorities have successfully implemented only 6 of 14 action plans emanating...

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Main Author:	World Bank
Format:	Accounting and Auditing Assessment (ROSC)
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING FIRM ACCOUNTING PERIOD ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING RULES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTS ACTUARIES ARBITRAGE ASSET PRICE ASSET QUALITY AUDIT COMMITTEE AUDIT COMMITTEES AUDIT EVIDENCE AUDIT REPORTS AUDIT STANDARDS AUDITED ACCOUNTS AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BALANCE SHEETS BANK SUPERVISION BANKING SECTOR BANKING SUPERVISION BID BOOKKEEPING BORROWING CAPACITY BUSINESS ETHICS BUSINESS EXPANSION CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CENTRAL BANK COMPLIANCE GAPS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED SUPERVISION CONSOLIDATION CONTINGENT LIABILITIES COOPERATIVES CORPORATE GOVERNANCE COST ACCOUNTING CREDITOR CREDITOR RIGHTS DEPOSIT DEPOSIT INSURANCE DEPOSIT MONEY BANKS DEVELOPMENT FINANCE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENT DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DOMESTIC BANKING DUE DILIGENCE EMPLOYMENT ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS ENTRY REQUIREMENTS EXCHANGE COMMISSION EXPORTER EXTERNAL AUDITORS FAIR VALUE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SERVICES FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN INVESTORS GOOD PRACTICE GROSS DOMESTIC PRODUCT HUMAN RESOURCE HUMAN RESOURCES INCOME STATEMENTS INCOME TAX INFORMATION DISCLOSURE INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE CORPORATION INSURANCE POLICIES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVESTMENT DECISIONS INVESTOR CONFIDENCE ISSUANCE LAWS LIABILITY LIABILITY SIDE LIQUIDITY LOAN EXPOSURES LOCAL BANKS MANDATES MERGERS MICROFINANCE MINIMUM CAPITAL REQUIREMENT MINIMUM CAPITAL REQUIREMENTS MONETARY FUND MORTGAGE NATURAL RESOURCES NON-PERFORMING LOAN NPL OPERATING LEASES OWNERSHIP STRUCTURE PEER REVIEW PENALTIES PENSION PENSION FUND PENSION REFORM PORTFOLIO PRICE EARNINGS RATIO PROCUREMENT PRUDENTIAL REQUIREMENTS PUBLIC ENTERPRISES QUALITY ASSURANCE QUALITY CONTROL RATING AGENCIES REGULATORY AUTHORITIES REGULATORY FRAMEWORK REGULATORY OBJECTIVES RETURNS SECURITIES SECURITIES MARKET SHAREHOLDERS SMALL BANKS STATUTORY AUDITORS STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITIES TAXATION TRANSPARENCY UNIVERSAL BANKING VALUATION VALUATION STANDARDS VALUATIONS WARRANTS
Online Access:	http://documents.worldbank.org/curated/en/2011/06/16303582/nigeria-report-observance-standards-codes-rosc http://hdl.handle.net/10986/12300

id	okr-10986-12300
recordtype	oai_dc
spelling	okr-10986-123002021-04-23T14:03:02Z Nigeria : Accounting and Auditing World Bank ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING FIRM ACCOUNTING PERIOD ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING RULES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTS ACTUARIES ARBITRAGE ASSET PRICE ASSET QUALITY AUDIT COMMITTEE AUDIT COMMITTEES AUDIT EVIDENCE AUDIT REPORTS AUDIT STANDARDS AUDITED ACCOUNTS AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BALANCE SHEETS BANK SUPERVISION BANKING SECTOR BANKING SUPERVISION BID BOOKKEEPING BORROWING CAPACITY BUSINESS ETHICS BUSINESS EXPANSION CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CENTRAL BANK COMPLIANCE GAPS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED SUPERVISION CONSOLIDATION CONTINGENT LIABILITIES COOPERATIVES CORPORATE GOVERNANCE COST ACCOUNTING CREDITOR CREDITOR RIGHTS DEPOSIT DEPOSIT INSURANCE DEPOSIT MONEY BANKS DEVELOPMENT FINANCE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENT DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DOMESTIC BANKING DUE DILIGENCE EMPLOYMENT ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS ENTRY REQUIREMENTS EXCHANGE COMMISSION EXPORTER EXTERNAL AUDITORS FAIR VALUE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SERVICES FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN INVESTORS GOOD PRACTICE GROSS DOMESTIC PRODUCT HUMAN RESOURCE HUMAN RESOURCES INCOME STATEMENTS INCOME TAX INFORMATION DISCLOSURE INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE CORPORATION INSURANCE POLICIES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVESTMENT DECISIONS INVESTOR CONFIDENCE ISSUANCE LAWS LIABILITY LIABILITY SIDE LIQUIDITY LOAN EXPOSURES LOCAL BANKS MANDATES MERGERS MICROFINANCE MINIMUM CAPITAL REQUIREMENT MINIMUM CAPITAL REQUIREMENTS MONETARY FUND MORTGAGE NATURAL RESOURCES NON-PERFORMING LOAN NPL OPERATING LEASES OWNERSHIP STRUCTURE PEER REVIEW PENALTIES PENSION PENSION FUND PENSION REFORM PORTFOLIO PRICE EARNINGS RATIO PROCUREMENT PRUDENTIAL REQUIREMENTS PUBLIC ENTERPRISES QUALITY ASSURANCE QUALITY CONTROL RATING AGENCIES REGULATORY AUTHORITIES REGULATORY FRAMEWORK REGULATORY OBJECTIVES RETURNS SECURITIES SECURITIES MARKET SHAREHOLDERS SMALL BANKS STATUTORY AUDITORS STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITIES TAXATION TRANSPARENCY UNIVERSAL BANKING VALUATION VALUATION STANDARDS VALUATIONS WARRANTS This report finds that there has been limited implementation of the 2004 Country Action Plan and limited improvement in financial reporting practices in Nigeria. Nigerian authorities have successfully implemented only 6 of 14 action plans emanating from the 2004 review leaving significant areas yet to be addressed. This 2011 ROSC presents policy recommendations that take into account international experience, good practice, and local circumstances. 2013-02-11T19:57:30Z 2013-02-11T19:57:30Z 2011-06-06 http://documents.worldbank.org/curated/en/2011/06/16303582/nigeria-report-observance-standards-codes-rosc http://hdl.handle.net/10986/12300 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) Economic & Sector Work Africa Nigeria
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING FIRM ACCOUNTING PERIOD ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING RULES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTS ACTUARIES ARBITRAGE ASSET PRICE ASSET QUALITY AUDIT COMMITTEE AUDIT COMMITTEES AUDIT EVIDENCE AUDIT REPORTS AUDIT STANDARDS AUDITED ACCOUNTS AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BALANCE SHEETS BANK SUPERVISION BANKING SECTOR BANKING SUPERVISION BID BOOKKEEPING BORROWING CAPACITY BUSINESS ETHICS BUSINESS EXPANSION CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CENTRAL BANK COMPLIANCE GAPS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED SUPERVISION CONSOLIDATION CONTINGENT LIABILITIES COOPERATIVES CORPORATE GOVERNANCE COST ACCOUNTING CREDITOR CREDITOR RIGHTS DEPOSIT DEPOSIT INSURANCE DEPOSIT MONEY BANKS DEVELOPMENT FINANCE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENT DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DOMESTIC BANKING DUE DILIGENCE EMPLOYMENT ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS ENTRY REQUIREMENTS EXCHANGE COMMISSION EXPORTER EXTERNAL AUDITORS FAIR VALUE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SERVICES FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN INVESTORS GOOD PRACTICE GROSS DOMESTIC PRODUCT HUMAN RESOURCE HUMAN RESOURCES INCOME STATEMENTS INCOME TAX INFORMATION DISCLOSURE INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE CORPORATION INSURANCE POLICIES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVESTMENT DECISIONS INVESTOR CONFIDENCE ISSUANCE LAWS LIABILITY LIABILITY SIDE LIQUIDITY LOAN EXPOSURES LOCAL BANKS MANDATES MERGERS MICROFINANCE MINIMUM CAPITAL REQUIREMENT MINIMUM CAPITAL REQUIREMENTS MONETARY FUND MORTGAGE NATURAL RESOURCES NON-PERFORMING LOAN NPL OPERATING LEASES OWNERSHIP STRUCTURE PEER REVIEW PENALTIES PENSION PENSION FUND PENSION REFORM PORTFOLIO PRICE EARNINGS RATIO PROCUREMENT PRUDENTIAL REQUIREMENTS PUBLIC ENTERPRISES QUALITY ASSURANCE QUALITY CONTROL RATING AGENCIES REGULATORY AUTHORITIES REGULATORY FRAMEWORK REGULATORY OBJECTIVES RETURNS SECURITIES SECURITIES MARKET SHAREHOLDERS SMALL BANKS STATUTORY AUDITORS STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITIES TAXATION TRANSPARENCY UNIVERSAL BANKING VALUATION VALUATION STANDARDS VALUATIONS WARRANTS
spellingShingle	ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING FIRM ACCOUNTING PERIOD ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING RULES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTS ACTUARIES ARBITRAGE ASSET PRICE ASSET QUALITY AUDIT COMMITTEE AUDIT COMMITTEES AUDIT EVIDENCE AUDIT REPORTS AUDIT STANDARDS AUDITED ACCOUNTS AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BALANCE SHEETS BANK SUPERVISION BANKING SECTOR BANKING SUPERVISION BID BOOKKEEPING BORROWING CAPACITY BUSINESS ETHICS BUSINESS EXPANSION CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CENTRAL BANK COMPLIANCE GAPS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED SUPERVISION CONSOLIDATION CONTINGENT LIABILITIES COOPERATIVES CORPORATE GOVERNANCE COST ACCOUNTING CREDITOR CREDITOR RIGHTS DEPOSIT DEPOSIT INSURANCE DEPOSIT MONEY BANKS DEVELOPMENT FINANCE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENT DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DOMESTIC BANKING DUE DILIGENCE EMPLOYMENT ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS ENTRY REQUIREMENTS EXCHANGE COMMISSION EXPORTER EXTERNAL AUDITORS FAIR VALUE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SERVICES FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN INVESTORS GOOD PRACTICE GROSS DOMESTIC PRODUCT HUMAN RESOURCE HUMAN RESOURCES INCOME STATEMENTS INCOME TAX INFORMATION DISCLOSURE INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE CORPORATION INSURANCE POLICIES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVESTMENT DECISIONS INVESTOR CONFIDENCE ISSUANCE LAWS LIABILITY LIABILITY SIDE LIQUIDITY LOAN EXPOSURES LOCAL BANKS MANDATES MERGERS MICROFINANCE MINIMUM CAPITAL REQUIREMENT MINIMUM CAPITAL REQUIREMENTS MONETARY FUND MORTGAGE NATURAL RESOURCES NON-PERFORMING LOAN NPL OPERATING LEASES OWNERSHIP STRUCTURE PEER REVIEW PENALTIES PENSION PENSION FUND PENSION REFORM PORTFOLIO PRICE EARNINGS RATIO PROCUREMENT PRUDENTIAL REQUIREMENTS PUBLIC ENTERPRISES QUALITY ASSURANCE QUALITY CONTROL RATING AGENCIES REGULATORY AUTHORITIES REGULATORY FRAMEWORK REGULATORY OBJECTIVES RETURNS SECURITIES SECURITIES MARKET SHAREHOLDERS SMALL BANKS STATUTORY AUDITORS STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITIES TAXATION TRANSPARENCY UNIVERSAL BANKING VALUATION VALUATION STANDARDS VALUATIONS WARRANTS World Bank Nigeria : Accounting and Auditing
geographic_facet	Africa Nigeria
description	This report finds that there has been limited implementation of the 2004 Country Action Plan and limited improvement in financial reporting practices in Nigeria. Nigerian authorities have successfully implemented only 6 of 14 action plans emanating from the 2004 review leaving significant areas yet to be addressed. This 2011 ROSC presents policy recommendations that take into account international experience, good practice, and local circumstances.
format	Economic & Sector Work :: Accounting and Auditing Assessment (ROSC)
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Nigeria : Accounting and Auditing
title_short	Nigeria : Accounting and Auditing
title_full	Nigeria : Accounting and Auditing
title_fullStr	Nigeria : Accounting and Auditing
title_full_unstemmed	Nigeria : Accounting and Auditing
title_sort	nigeria : accounting and auditing
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2011/06/16303582/nigeria-report-observance-standards-codes-rosc http://hdl.handle.net/10986/12300
_version_	1764420298195599360

Nigeria : Accounting and Auditing

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