Hashemite Kingdom of Jordan : Accounting and Auditing
Jordan is committed to aligning its national corporate financial reporting requirements with the International Accounting Standards and International Standards on Auditing, and it has achieved significant improvements, including issuance of a new A...
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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/2004/06/6569608/report-observance-standards-codes-rosc-accounting-auditing-jordan http://hdl.handle.net/10986/14552 |
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okr-10986-145522021-04-23T14:03:18Z Hashemite Kingdom of Jordan : Accounting and Auditing World Bank ACCOUNTING ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING STANDARDS AGRICULTURAL CREDIT APPROPRIATIONS AUDITED FINANCIAL STATEMENTS AUDITING AUDITORS AUDITS BAD DEBT BAD DEBTS BANKING LAW BANKING SUPERVISION BANKS BONDS COMMERCIAL BANKS CONSOLIDATED FINANCIAL STATEMENTS ECONOMIC REFORM EXCHANGE RATES EXTERNAL AUDITORS FINANCIAL INFORMATION FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FISCAL DISCIPLINE FOREIGN BANKS FOREIGN EXCHANGE GROSS DOMESTIC PRODUCT HOUSING INCOME TAXES INFLATION INSURANCE INSURANCE INDUSTRY INTERNATIONAL ACCOUNTING STANDARDS INVESTMENT BANKS LAWS LEGAL PROVISIONS LEGISLATION LEGISLATIVE FRAMEWORK LICENSES NET PROFIT NONPERFORMING LOANS PRIVATE SECTOR PRIVATIZATION PRUDENTIAL REGULATIONS PUBLIC REGULATORY FRAMEWORK SECURITIES SHAREHOLDERS EQUITY SUBSIDIARIES SUBSIDIARY TAX TAX COLLECTION TRANSPARENCY URBAN DEVELOPMENT Jordan is committed to aligning its national corporate financial reporting requirements with the International Accounting Standards and International Standards on Auditing, and it has achieved significant improvements, including issuance of a new Accountancy Profession Law. Although this law is a significant step toward regulating the profession, the Report on the Observance of Standards and Codes (ROSC) team discussions with professionals and various other stakeholders in Jordan helped point out a need to revisit some articles of the law and their content. Also, considerable steps have been taken to narrow the "compliance gap" in both accounting and auditing practices; however closing the gap completely will be challenging and demanding. Educating new auditors and reeducating practitioners and regulators requires focusing on a different style and philosophy of accounting requirements. In addition, to fully implement International Accounting Standards, a culture shift is required to reduce the influence of tax accounting on general-purpose financial statements. The risk exists for undetected accounting manipulation, misrepresentation of financial statements, and departures from established accounting and auditing procedures. The ROSC report draws upon recent international experience in developed economies, and success stories in the Middle East and North Africa Region, and, provides policy recommendations specifically focused on strengthening enforcement mechanisms for ensuring compliance with established accounting and auditing requirements. 2013-07-25T14:50:04Z 2013-07-25T14:50:04Z 2004-06-10 http://documents.worldbank.org/curated/en/2004/06/6569608/report-observance-standards-codes-rosc-accounting-auditing-jordan http://hdl.handle.net/10986/14552 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 Middle East and North Africa Jordan |
| 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 ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING STANDARDS AGRICULTURAL CREDIT APPROPRIATIONS AUDITED FINANCIAL STATEMENTS AUDITING AUDITORS AUDITS BAD DEBT BAD DEBTS BANKING LAW BANKING SUPERVISION BANKS BONDS COMMERCIAL BANKS CONSOLIDATED FINANCIAL STATEMENTS ECONOMIC REFORM EXCHANGE RATES EXTERNAL AUDITORS FINANCIAL INFORMATION FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FISCAL DISCIPLINE FOREIGN BANKS FOREIGN EXCHANGE GROSS DOMESTIC PRODUCT HOUSING INCOME TAXES INFLATION INSURANCE INSURANCE INDUSTRY INTERNATIONAL ACCOUNTING STANDARDS INVESTMENT BANKS LAWS LEGAL PROVISIONS LEGISLATION LEGISLATIVE FRAMEWORK LICENSES NET PROFIT NONPERFORMING LOANS PRIVATE SECTOR PRIVATIZATION PRUDENTIAL REGULATIONS PUBLIC REGULATORY FRAMEWORK SECURITIES SHAREHOLDERS EQUITY SUBSIDIARIES SUBSIDIARY TAX TAX COLLECTION TRANSPARENCY URBAN DEVELOPMENT |
| spellingShingle |
ACCOUNTING ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING STANDARDS AGRICULTURAL CREDIT APPROPRIATIONS AUDITED FINANCIAL STATEMENTS AUDITING AUDITORS AUDITS BAD DEBT BAD DEBTS BANKING LAW BANKING SUPERVISION BANKS BONDS COMMERCIAL BANKS CONSOLIDATED FINANCIAL STATEMENTS ECONOMIC REFORM EXCHANGE RATES EXTERNAL AUDITORS FINANCIAL INFORMATION FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FISCAL DISCIPLINE FOREIGN BANKS FOREIGN EXCHANGE GROSS DOMESTIC PRODUCT HOUSING INCOME TAXES INFLATION INSURANCE INSURANCE INDUSTRY INTERNATIONAL ACCOUNTING STANDARDS INVESTMENT BANKS LAWS LEGAL PROVISIONS LEGISLATION LEGISLATIVE FRAMEWORK LICENSES NET PROFIT NONPERFORMING LOANS PRIVATE SECTOR PRIVATIZATION PRUDENTIAL REGULATIONS PUBLIC REGULATORY FRAMEWORK SECURITIES SHAREHOLDERS EQUITY SUBSIDIARIES SUBSIDIARY TAX TAX COLLECTION TRANSPARENCY URBAN DEVELOPMENT World Bank Hashemite Kingdom of Jordan : Accounting and Auditing |
| geographic_facet |
Middle East and North Africa Jordan |
| description |
Jordan is committed to aligning its
national corporate financial reporting requirements with the
International Accounting Standards and International
Standards on Auditing, and it has achieved significant
improvements, including issuance of a new Accountancy
Profession Law. Although this law is a significant step
toward regulating the profession, the Report on the
Observance of Standards and Codes (ROSC) team discussions
with professionals and various other stakeholders in Jordan
helped point out a need to revisit some articles of the law
and their content. Also, considerable steps have been taken
to narrow the "compliance gap" in both accounting
and auditing practices; however closing the gap completely
will be challenging and demanding. Educating new auditors
and reeducating practitioners and regulators requires
focusing on a different style and philosophy of accounting
requirements. In addition, to fully implement International
Accounting Standards, a culture shift is required to reduce
the influence of tax accounting on general-purpose financial
statements. The risk exists for undetected accounting
manipulation, misrepresentation of financial statements, and
departures from established accounting and auditing
procedures. The ROSC report draws upon recent international
experience in developed economies, and success stories in
the Middle East and North Africa Region, and, provides
policy recommendations specifically focused on strengthening
enforcement mechanisms for ensuring compliance with
established accounting and auditing requirements. |
| format |
Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Hashemite Kingdom of Jordan : Accounting and Auditing |
| title_short |
Hashemite Kingdom of Jordan : Accounting and Auditing |
| title_full |
Hashemite Kingdom of Jordan : Accounting and Auditing |
| title_fullStr |
Hashemite Kingdom of Jordan : Accounting and Auditing |
| title_full_unstemmed |
Hashemite Kingdom of Jordan : Accounting and Auditing |
| title_sort |
hashemite kingdom of jordan : accounting and auditing |
| publisher |
Washington DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2004/06/6569608/report-observance-standards-codes-rosc-accounting-auditing-jordan http://hdl.handle.net/10986/14552 |
| _version_ |
1764429175918166016 |