Republic of Tajikistan : Accounting and Auditing

Republic of Tajikistan : Accounting and Auditing

This report describes the results of a ROSC assessment of the accounting, financial reporting and auditing requirements and practices of the Republic of Tajikistan's enterprise and financial sectors. The report assesses the quality of the Taji...

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Bibliographic Details
Main Author:	World Bank
Format:	Accounting and Auditing Assessment (ROSC)
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCESS TO BANK ACCOUNT ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING DOCUMENTS ACCOUNTING FIRMS ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING REFORM ACCOUNTING REPORTS ACCOUNTING RULES ACCOUNTING SERVICES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTING SYSTEMS ACCOUNTS ACCOUNTS RECEIVABLE ACQUISITIONS AMOUNT OF COLLATERAL AUDIT COMMITTEES AUDIT DEPARTMENTS AUDIT EVIDENCE AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITING TRAINING AUDITORS AUDITS BAD DEBT BAD DEBTS BALANCE SHEET BALANCE SHEETS BANK FINANCING BANK LOANS BANKING LAW BANKING SECTOR BOARDS OF DIRECTORS BOOKKEEPING BUSINESS PLANS CAPACITY BUILDING CAPITAL REQUIREMENTS CASH ACCOUNTING CASH TRANSACTIONS CHARTS OF ACCOUNTS CIVIL CODE CIVIL LAWS COLLATERAL COLLATERAL REQUIREMENTS COMMERCIAL BANKS COMPLIANCE GAP CONFIRMATIONS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CORPORATE GOVERNANCE CORPORATE INVESTMENT CREDIT INSTITUTIONS CREDITORS DEBT DEBTS DEPOSITS DEPRECIATION DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DUE DILIGENCE ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS ENTERPRISE PERFORMANCE ENTREPRENEURSHIP EXPENDITURES FINANCIAL ASSETS FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS GOOD PRACTICE GOOD PRACTICES GROSS DOMESTIC PRODUCT HUMAN RESOURCES INCOME DISTRIBUTION INCOME TAXES INSTITUTIONAL CAPACITY INSURANCE INSURANCE COMPANIES INSURANCE PENETRATION INSURANCE POLICIES INSURANCE PREMIUMS INSURANCE PRODUCTS INTEREST RATES INTERNAL AUDIT INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL DEVELOPMENT INTERNATIONAL STANDARDS INVENTORIES INVESTMENT FUNDS INVESTMENT PROJECTS JOINT STOCK COMPANY JOINT-STOCK COMPANIES LAND OWNERSHIP LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LENDERS LENDING DECISIONS LIFO LIMITED LIABILITY LIQUIDATION LLC LOAN LOAN APPLICATIONS LOSS STATEMENT MANAGEMENT ACCOUNTING MANDATES MICROFINANCE MICROFINANCE INSTITUTIONS MINIMUM CAPITAL REQUIREMENT MONETARY FUND MUTUAL FUNDS NATIONAL BANK OPEN JOINT STOCK COMPANIES PEER REVIEW POLITICAL STABILITY PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PRUDENTIAL SUPERVISION PUBLIC DISCLOSURE PUBLIC FUNDS QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REGISTRATION LAW REGISTRATION PROCESS REGULATORY FRAMEWORK REGULATORY REPORTS REMITTANCE REMITTANCES REORGANIZATION RISK MANAGEMENT SECONDARY MARKET SECURITIES SECURITIES LAW SECURITIES MARKET SETTLEMENT SHAREHOLDER SHAREHOLDERS SMALL BUSINESSES STATE PROPERTY STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK EXCHANGES SUBSIDIARY SUPERVISORY AGENCY TAX TAX CODE TAX RULES TAXATION TECHNICAL ASSISTANCE TRADING TRANSACTION TRANSITION COUNTRIES TRANSPARENCY
Online Access:	http://documents.worldbank.org/curated/en/2009/12/16340085/tajikistan-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/12568

Description
Summary:	This report describes the results of a ROSC assessment of the accounting, financial reporting and auditing requirements and practices of the Republic of Tajikistan's enterprise and financial sectors. The report assesses the quality of the Tajik financial reporting framework and makes policy recommendations for improvement. With a gross national income per capita of US$430, Tajikistan remains the poorest country in the former Soviet Union. Despite various reforms over the past several years, the business climate still lags behind other transition countries. Many of the country's problems stem from the 1992-1997 civil war, which so damaged the country's economic infrastructure that it precipitated a sharp decline in industrial and agricultural production. Although there has been moderate domestic growth since 1997, real output is currently just over 50 percent of the 1989 level. The Republic of Tajikistan's small financial system is dominated by a few banks. The level of financial activity is among the lowest in the world, with Tajik lending amounting to merely 7.1 percent of GDP in 2007. More than 80 percent of the country s small- to medium-sized enterprises do not use the banking sector. The Republic of Tajikistan needs to improve and strengthen its corporate financial reporting system to ensure that public interest entities, such as banks and state-owned entities, become more accountable and transparent. The country needs enhanced accounting, disclosure and auditing regulations, more power for regulators and professional bodies to enforce accounting and auditing regulations and more extensive, practical and continuing professional education. All of this should be done without adding excessive regulatory burdens on medium-sized, small and micro entities.

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