An Independent Oversight Body for Quality Assurance Review in the Philippines
The paper is part of a program to provide support to a major recommendation in the Philippine Review of Standards and Codes on Accounting and Auditing (ROSC-A&A). The ROSC-A&A brought out that there were major improvements in the accounting...
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| Format: | Accounting and Auditing Assessment (ROSC) |
| Language: | English en_US |
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Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2009/02/16277578/philippines-an-independent-oversight-quality-assurance-review http://hdl.handle.net/10986/12483 |
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okr-10986-124832021-04-23T14:03:01Z An Independent Oversight Body for Quality Assurance Review in the Philippines World Bank ACCOUNTING STANDARDS AGENTS AUDITORS BENEFICIARIES BROKERS BUSINESS COMMUNITY CERTIFIED PUBLIC ACCOUNTANTS COMPONENT PARTS COVERAGE DISCUSSION DISCUSSIONS ENFORCEMENT MECHANISM FINANCIAL REPORTING GOVERNMENT REGULATIONS GOVERNMENT REGULATORS HANDLING IDEA INNOVATION INSPECTIONS INSTRUCTION INSURANCE INTEGRITY INTERRELATIONSHIPS INVESTIGATIONS LEGAL AUTHORITY LEGAL REQUIREMENTS PRACTITIONERS PROFESSIONAL STANDARDS PROGRAM COSTS PROGRAMS QUALITY ASSURANCE QUALITY CONTROL QUALITY CONTROL PROCEDURES RATES REGULATORS REGULATORY AGENCIES REGULATORY AUTHORITIES REGULATORY AUTHORITY RULES SAVINGS SECURITIES SOCIAL RESPONSIBILITY SUSTAINABILITY TECHNICAL STANDARDS The paper is part of a program to provide support to a major recommendation in the Philippine Review of Standards and Codes on Accounting and Auditing (ROSC-A&A). The ROSC-A&A brought out that there were major improvements in the accounting and auditing scene since the last assessment made in 2001. Substantially complete improvements include the adoption of the international standards for accounting, auditing, and professional ethics. The objects of this program were as follows: First, to develop a strategic plan to provide for the adoption and implementation of a QAR (Quality Assurance Review) program for auditing firms in the Philippines. Second, begin devloping a cooperative arrangement between Philippine regulatory authorities and the accounting professional body, and develop rules and regulations subjecting auditors and/or auditing firms to such a quality assurance review program. This would include administrative steps to be taken by the relevant government authority to initiate this program. Third, to enable the development a medium-term strategic plan for sustainability of the QAR program. The proposed plan should be the product of working closely with the relevant regulatory body (BOA) and PICPA incorporating their inputs in the study. This should ensure their eventual acceptability for adoption and implementation by these entities. 2013-02-25T19:27:02Z 2013-02-25T19:27:02Z 2009-02 http://documents.worldbank.org/curated/en/2009/02/16277578/philippines-an-independent-oversight-quality-assurance-review http://hdl.handle.net/10986/12483 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 East Asia and Pacific Philippines |
| 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 |
ACCOUNTING STANDARDS AGENTS AUDITORS BENEFICIARIES BROKERS BUSINESS COMMUNITY CERTIFIED PUBLIC ACCOUNTANTS COMPONENT PARTS COVERAGE DISCUSSION DISCUSSIONS ENFORCEMENT MECHANISM FINANCIAL REPORTING GOVERNMENT REGULATIONS GOVERNMENT REGULATORS HANDLING IDEA INNOVATION INSPECTIONS INSTRUCTION INSURANCE INTEGRITY INTERRELATIONSHIPS INVESTIGATIONS LEGAL AUTHORITY LEGAL REQUIREMENTS PRACTITIONERS PROFESSIONAL STANDARDS PROGRAM COSTS PROGRAMS QUALITY ASSURANCE QUALITY CONTROL QUALITY CONTROL PROCEDURES RATES REGULATORS REGULATORY AGENCIES REGULATORY AUTHORITIES REGULATORY AUTHORITY RULES SAVINGS SECURITIES SOCIAL RESPONSIBILITY SUSTAINABILITY TECHNICAL STANDARDS |
| spellingShingle |
ACCOUNTING STANDARDS AGENTS AUDITORS BENEFICIARIES BROKERS BUSINESS COMMUNITY CERTIFIED PUBLIC ACCOUNTANTS COMPONENT PARTS COVERAGE DISCUSSION DISCUSSIONS ENFORCEMENT MECHANISM FINANCIAL REPORTING GOVERNMENT REGULATIONS GOVERNMENT REGULATORS HANDLING IDEA INNOVATION INSPECTIONS INSTRUCTION INSURANCE INTEGRITY INTERRELATIONSHIPS INVESTIGATIONS LEGAL AUTHORITY LEGAL REQUIREMENTS PRACTITIONERS PROFESSIONAL STANDARDS PROGRAM COSTS PROGRAMS QUALITY ASSURANCE QUALITY CONTROL QUALITY CONTROL PROCEDURES RATES REGULATORS REGULATORY AGENCIES REGULATORY AUTHORITIES REGULATORY AUTHORITY RULES SAVINGS SECURITIES SOCIAL RESPONSIBILITY SUSTAINABILITY TECHNICAL STANDARDS World Bank An Independent Oversight Body for Quality Assurance Review in the Philippines |
| geographic_facet |
East Asia and Pacific Philippines |
| description |
The paper is part of a program to
provide support to a major recommendation in the Philippine
Review of Standards and Codes on Accounting and Auditing
(ROSC-A&A). The ROSC-A&A brought out that there were
major improvements in the accounting and auditing scene
since the last assessment made in 2001. Substantially
complete improvements include the adoption of the
international standards for accounting, auditing, and
professional ethics. The objects of this program were as
follows: First, to develop a strategic plan to provide for
the adoption and implementation of a QAR (Quality Assurance
Review) program for auditing firms in the Philippines.
Second, begin devloping a cooperative arrangement between
Philippine regulatory authorities and the accounting
professional body, and develop rules and regulations
subjecting auditors and/or auditing firms to such a quality
assurance review program. This would include administrative
steps to be taken by the relevant government authority to
initiate this program. Third, to enable the development a
medium-term strategic plan for sustainability of the QAR
program. The proposed plan should be the product of working
closely with the relevant regulatory body (BOA) and PICPA
incorporating their inputs in the study. This should ensure
their eventual acceptability for adoption and implementation
by these entities. |
| format |
Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
An Independent Oversight Body for Quality Assurance Review in the Philippines |
| title_short |
An Independent Oversight Body for Quality Assurance Review in the Philippines |
| title_full |
An Independent Oversight Body for Quality Assurance Review in the Philippines |
| title_fullStr |
An Independent Oversight Body for Quality Assurance Review in the Philippines |
| title_full_unstemmed |
An Independent Oversight Body for Quality Assurance Review in the Philippines |
| title_sort |
independent oversight body for quality assurance review in the philippines |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2009/02/16277578/philippines-an-independent-oversight-quality-assurance-review http://hdl.handle.net/10986/12483 |
| _version_ |
1764419975335903232 |