Accounting for Growth in Latin America and the Caribbean : Improving Corporate Financial Reporting to Support Regional Economic Development
In the Latin America and Caribbean (LAC) region, as in the rest of the world, reliable financial information is the cornerstone of a robust market economy and efficient public sector. This book presents both an analysis of the broader trends derived from the individual country-level studies produced...
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| Format: | Publication |
| Language: | en_US |
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Washington, DC: World Bank
2013
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| Online Access: | http://hdl.handle.net/10986/13539 |
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okr-10986-13539 |
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oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
en_US |
| topic |
Accountability Accountant Accounting accounting policies accounting practices Accounting Principles Accounting Standards AIC allocation of capital audit committee Auditing Auditors audits balance sheet bank deposits bank failure bank failures Bank Governors banking crises bankruptcy bonds business climate capacity building capacity development capital market capital market reforms capital markets cash flow cash flows Central Bank civil law Commodities commodity prices common law Company Law company laws consolidated financial statements consolidated supervision Copyright Clearance Copyright Clearance Center corporate governance cost of capital credibility credit rating credit rating agencies creditors currency currency devaluation debt obligations debt securities debt stocks depositors derivatives developing countries Development Bank development path disclosure of information domestic market Economic Development emerging market emerging market countries employment enforcement powers Entry Requirements equity markets equity securities Exchange Commission exchange rates external auditors external debt fair value fiduciary responsibility finances Financial Accounting Financial Asset Financial Assets financial contagion financial crisis financial data financial derivatives financial health Financial Information financial innovations Financial institutions financial management Financial Markets financial performance Financial Sector financial stability Financial Statements financial support fixed costs flexible exchange rate flexible exchange rate regimes Foreign investors Foreign Market fraud Futures Futures Exchange global climate global markets globalization governance standards government debt government debt securities Gross domestic product holdings human development income income distribution income taxes indebtedness inflation information asymmetries initial public offerings institutional investors Insurance insurance companies Internal Control International Accounting Standards International Bank international banks international credit international credit rating international development international investors International Standard International Standards investing investment capital investment decisions Investment Fund investment funds investment money investor confidence investor interest lack of transparency legal system legal tradition legal traditions legislation lender lenders liquidity loan loan covenants local enterprises macroeconomic stability mark-to-market market capitalization market discipline market economy market reforms market regulator market regulators Microenterprises minority shareholders Monetary Fund moral hazard mortgage mortgage-backed securities new entrants new products nonbank financial institutions oil prices operational risks ownership interest pension pension fund pension funds pensions Political Stability potential investors private debt private sector development privatization productivity prudential regulation Public Accountability public enterprises public finances public policy public services public spending purchasing power regulatory authorities regulatory framework regulatory oversight remittances retirement return rule of law savings savings accounts Securities securities market self-regulation shareholders Stock Exchange stock exchanges stock market stock market capitalization stock markets subsidiaries subsidiary supervisory framework swaps systemic risk tax tax administration taxation technical assistance trading transaction transparency treasuries treaty |
| spellingShingle |
Accountability Accountant Accounting accounting policies accounting practices Accounting Principles Accounting Standards AIC allocation of capital audit committee Auditing Auditors audits balance sheet bank deposits bank failure bank failures Bank Governors banking crises bankruptcy bonds business climate capacity building capacity development capital market capital market reforms capital markets cash flow cash flows Central Bank civil law Commodities commodity prices common law Company Law company laws consolidated financial statements consolidated supervision Copyright Clearance Copyright Clearance Center corporate governance cost of capital credibility credit rating credit rating agencies creditors currency currency devaluation debt obligations debt securities debt stocks depositors derivatives developing countries Development Bank development path disclosure of information domestic market Economic Development emerging market emerging market countries employment enforcement powers Entry Requirements equity markets equity securities Exchange Commission exchange rates external auditors external debt fair value fiduciary responsibility finances Financial Accounting Financial Asset Financial Assets financial contagion financial crisis financial data financial derivatives financial health Financial Information financial innovations Financial institutions financial management Financial Markets financial performance Financial Sector financial stability Financial Statements financial support fixed costs flexible exchange rate flexible exchange rate regimes Foreign investors Foreign Market fraud Futures Futures Exchange global climate global markets globalization governance standards government debt government debt securities Gross domestic product holdings human development income income distribution income taxes indebtedness inflation information asymmetries initial public offerings institutional investors Insurance insurance companies Internal Control International Accounting Standards International Bank international banks international credit international credit rating international development international investors International Standard International Standards investing investment capital investment decisions Investment Fund investment funds investment money investor confidence investor interest lack of transparency legal system legal tradition legal traditions legislation lender lenders liquidity loan loan covenants local enterprises macroeconomic stability mark-to-market market capitalization market discipline market economy market reforms market regulator market regulators Microenterprises minority shareholders Monetary Fund moral hazard mortgage mortgage-backed securities new entrants new products nonbank financial institutions oil prices operational risks ownership interest pension pension fund pension funds pensions Political Stability potential investors private debt private sector development privatization productivity prudential regulation Public Accountability public enterprises public finances public policy public services public spending purchasing power regulatory authorities regulatory framework regulatory oversight remittances retirement return rule of law savings savings accounts Securities securities market self-regulation shareholders Stock Exchange stock exchanges stock market stock market capitalization stock markets subsidiaries subsidiary supervisory framework swaps systemic risk tax tax administration taxation technical assistance trading transaction transparency treasuries treaty Fortin, Henri Hirata Barros, Ana Cristina Cutler, Kit Accounting for Growth in Latin America and the Caribbean : Improving Corporate Financial Reporting to Support Regional Economic Development |
| geographic_facet |
Latin America & Caribbean Caribbean Latin America |
| relation |
Directions in Development--Finance; |
| description |
In the Latin America and Caribbean (LAC) region, as in the rest of the world, reliable financial information is the cornerstone of a robust market economy and efficient public sector. This book presents both an analysis of the broader trends derived from the individual country-level studies produced under the Report on the Observance of Standards and Codes (ROSC) Accounting and Auditing (A&A) program and a synthesis of lessons learned from the Bank's experiences working with policy makers and other stakeholders to implement the ROSC A&A recommendations. This first chapter introduces the book by showing how sound A&A practices in the private and public sectors contribute to LAC development agenda, and by describing the regional economic context. It then presents three case studies of successful financial reporting and auditing reforms within LAC, showing how these reforms have benefited the countries. It describes drivers of reform that have led some countries to adopt global standards of good A&A practice and others to take a more conservative, wait and see approach. Finally, the chapter describes the objectives and methodology of this study, and the structure of the book. |
| format |
Publications & Research :: Publication |
| author |
Fortin, Henri Hirata Barros, Ana Cristina Cutler, Kit |
| author_facet |
Fortin, Henri Hirata Barros, Ana Cristina Cutler, Kit |
| author_sort |
Fortin, Henri |
| title |
Accounting for Growth in Latin America and the Caribbean : Improving Corporate Financial Reporting to Support Regional Economic Development |
| title_short |
Accounting for Growth in Latin America and the Caribbean : Improving Corporate Financial Reporting to Support Regional Economic Development |
| title_full |
Accounting for Growth in Latin America and the Caribbean : Improving Corporate Financial Reporting to Support Regional Economic Development |
| title_fullStr |
Accounting for Growth in Latin America and the Caribbean : Improving Corporate Financial Reporting to Support Regional Economic Development |
| title_full_unstemmed |
Accounting for Growth in Latin America and the Caribbean : Improving Corporate Financial Reporting to Support Regional Economic Development |
| title_sort |
accounting for growth in latin america and the caribbean : improving corporate financial reporting to support regional economic development |
| publisher |
Washington, DC: World Bank |
| publishDate |
2013 |
| url |
http://hdl.handle.net/10986/13539 |
| _version_ |
1764424512105873408 |
| spelling |
okr-10986-135392021-04-23T14:03:10Z Accounting for Growth in Latin America and the Caribbean : Improving Corporate Financial Reporting to Support Regional Economic Development Fortin, Henri Hirata Barros, Ana Cristina Cutler, Kit Accountability Accountant Accounting accounting policies accounting practices Accounting Principles Accounting Standards AIC allocation of capital audit committee Auditing Auditors audits balance sheet bank deposits bank failure bank failures Bank Governors banking crises bankruptcy bonds business climate capacity building capacity development capital market capital market reforms capital markets cash flow cash flows Central Bank civil law Commodities commodity prices common law Company Law company laws consolidated financial statements consolidated supervision Copyright Clearance Copyright Clearance Center corporate governance cost of capital credibility credit rating credit rating agencies creditors currency currency devaluation debt obligations debt securities debt stocks depositors derivatives developing countries Development Bank development path disclosure of information domestic market Economic Development emerging market emerging market countries employment enforcement powers Entry Requirements equity markets equity securities Exchange Commission exchange rates external auditors external debt fair value fiduciary responsibility finances Financial Accounting Financial Asset Financial Assets financial contagion financial crisis financial data financial derivatives financial health Financial Information financial innovations Financial institutions financial management Financial Markets financial performance Financial Sector financial stability Financial Statements financial support fixed costs flexible exchange rate flexible exchange rate regimes Foreign investors Foreign Market fraud Futures Futures Exchange global climate global markets globalization governance standards government debt government debt securities Gross domestic product holdings human development income income distribution income taxes indebtedness inflation information asymmetries initial public offerings institutional investors Insurance insurance companies Internal Control International Accounting Standards International Bank international banks international credit international credit rating international development international investors International Standard International Standards investing investment capital investment decisions Investment Fund investment funds investment money investor confidence investor interest lack of transparency legal system legal tradition legal traditions legislation lender lenders liquidity loan loan covenants local enterprises macroeconomic stability mark-to-market market capitalization market discipline market economy market reforms market regulator market regulators Microenterprises minority shareholders Monetary Fund moral hazard mortgage mortgage-backed securities new entrants new products nonbank financial institutions oil prices operational risks ownership interest pension pension fund pension funds pensions Political Stability potential investors private debt private sector development privatization productivity prudential regulation Public Accountability public enterprises public finances public policy public services public spending purchasing power regulatory authorities regulatory framework regulatory oversight remittances retirement return rule of law savings savings accounts Securities securities market self-regulation shareholders Stock Exchange stock exchanges stock market stock market capitalization stock markets subsidiaries subsidiary supervisory framework swaps systemic risk tax tax administration taxation technical assistance trading transaction transparency treasuries treaty In the Latin America and Caribbean (LAC) region, as in the rest of the world, reliable financial information is the cornerstone of a robust market economy and efficient public sector. This book presents both an analysis of the broader trends derived from the individual country-level studies produced under the Report on the Observance of Standards and Codes (ROSC) Accounting and Auditing (A&A) program and a synthesis of lessons learned from the Bank's experiences working with policy makers and other stakeholders to implement the ROSC A&A recommendations. This first chapter introduces the book by showing how sound A&A practices in the private and public sectors contribute to LAC development agenda, and by describing the regional economic context. It then presents three case studies of successful financial reporting and auditing reforms within LAC, showing how these reforms have benefited the countries. It describes drivers of reform that have led some countries to adopt global standards of good A&A practice and others to take a more conservative, wait and see approach. Finally, the chapter describes the objectives and methodology of this study, and the structure of the book. 2013-05-24T15:00:55Z 2013-05-24T15:00:55Z 2010 978-0-8213-8108-3 http://hdl.handle.net/10986/13539 en_US Directions in Development--Finance; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research Latin America & Caribbean Caribbean Latin America |