Moldova : Reports on the Observance of Standards and Codes on Accounting and Auditing, Update

This assessment of accounting and auditing practices in Moldova is part of a joint initiative that is implemented by the World Bank and the International Monetary Fund to prepare Reports on the Observance of Standards and Codes (ROSC). The assessme...

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Main Author: World Bank
Format: Accounting and Auditing Assessment (ROSC)
Language:English
en_US
Published: Washington, DC 2014
Subjects:
IPO
TAX
Online Access:http://documents.worldbank.org/curated/en/2013/06/18310007/moldova-reports-observance-standards-codes-rosc-accounting-auditing-update
http://hdl.handle.net/10986/16783
id okr-10986-16783
recordtype oai_dc
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
ACCOUNTING
ACCOUNTING FRAMEWORK
ACCOUNTING POLICIES
ACCOUNTING REFORM
ACCOUNTING STANDARD
ACCOUNTING STANDARDS
ACCOUNTS
AFFILIATES
AUDIT COMMITTEE
AUDIT COMMITTEES
AUDIT REPORTS
AUDITED FINANCIAL STATEMENTS
AUDITING
AUDITING PROFESSION
AUDITING STANDARDS
AUDITORS
AUDITS
BALANCE SHEET
BANK CREDIT
BANKING SECTOR
BANKS
BORROWER
BROKERS
BUSINESS COMMUNITIES
BUSINESS COMMUNITY
BUSINESS ETHICS
CAPACITY BUILDING
CAPACITY CONSTRAINTS
CAPITAL MARKET
CERTIFIED PUBLIC ACCOUNTANTS
CHARTS OF ACCOUNTS
COMMERCIAL BANKS
COMPANY LAW
CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATION
CORPORATE GOVERNANCE
COST OF CAPITAL
CREDIT ASSOCIATIONS
CREDIT INSTITUTIONS
CREDIT RISKS
CURRENCY
DEPOSITS
DISCLOSURE REQUIREMENTS
EMPLOYMENT
ENABLING ENVIRONMENT
ENTERPRISE PERFORMANCE
ENTREPRENEURSHIP
EXTERNAL AUDITORS
EXTERNAL FUNDING
FINANCIAL CRISIS
FINANCIAL INFORMATION
FINANCIAL INSTITUTIONS
FINANCIAL MARKET
FINANCIAL MARKETS
FINANCIAL REPORTING
FINANCIAL REPORTING PERIOD
FINANCIAL REPORTING STANDARDS
FINANCIAL REPORTS
FINANCIAL STATEMENTS
FINANCIAL SYSTEM
FOREIGN DIRECT INVESTMENT
FOREIGN INVESTMENT
FOREIGN INVESTORS
GOOD PRACTICES
GOVERNANCE STANDARDS
GOVERNMENT FUNDING
HOLDING
HUMAN RESOURCE
HUMAN RESOURCES
IMAGE
INITIAL PUBLIC OFFERING
INSTITUTIONAL CAPACITY
INSURANCE
INSURANCE COMPANIES
INTERNAL AUDIT
INTERNATIONAL BANK
INTERNATIONAL STANDARDS
INVESTMENT CLIMATE
INVESTMENT FUNDS
IPO
JOINT STOCK COMPANY
JOINT-STOCK COMPANIES
JUDICIAL SYSTEM
LAWS
LEGAL FRAMEWORK
LEGISLATION
LEVEL OF CONFIDENCE
LIMITED LIABILITY
LIQUID ASSETS
LIQUIDATION
LOCAL INVESTORS
LOCAL MARKET
LONG-TERM INVESTMENT
MICRO ENTERPRISES
MICRO-FINANCE
MIGRATION
MONETARY FUND
PENALTIES
PENSION
PENSION FUNDS
PRIVATE FINANCE
PRIVATE INVESTMENT
PRIVATE INVESTMENTS
PRODUCTIVITY
PROFITABILITY
PRUDENTIAL REGULATIONS
PUBLIC AGENCIES
PUBLIC ASSETS
PUBLIC REGISTER
PUBLIC REGISTRY
QUALITY ASSURANCE
QUALITY AUDITS
QUALITY CONTROL
QUALITY STANDARDS
REGULATORY FRAMEWORK
REMITTANCE
REMITTANCES
SALES
SAVINGS
SECURITIES
SECURITIES MARKET
SHAREHOLDERS
SMALL BUSINESS
STATE ENTERPRISES
STATUTORY AUDITORS
STATUTORY REQUIREMENTS
STOCK EXCHANGE
SUBSIDIARIES
SUBSIDIARY
SUPERVISORY AUTHORITIES
TAX
TAX CODE
TAX COLLECTIONS
TAX PLANNING
TAXATION
TECHNICAL ASSISTANCE
THE NATIONAL BANK OF MOLDOVA
TRANSPARENCY
VALUATION
WITHDRAWAL
spellingShingle ACCOUNT
ACCOUNTABILITY
ACCOUNTANCY
ACCOUNTANT
ACCOUNTING
ACCOUNTING FRAMEWORK
ACCOUNTING POLICIES
ACCOUNTING REFORM
ACCOUNTING STANDARD
ACCOUNTING STANDARDS
ACCOUNTS
AFFILIATES
AUDIT COMMITTEE
AUDIT COMMITTEES
AUDIT REPORTS
AUDITED FINANCIAL STATEMENTS
AUDITING
AUDITING PROFESSION
AUDITING STANDARDS
AUDITORS
AUDITS
BALANCE SHEET
BANK CREDIT
BANKING SECTOR
BANKS
BORROWER
BROKERS
BUSINESS COMMUNITIES
BUSINESS COMMUNITY
BUSINESS ETHICS
CAPACITY BUILDING
CAPACITY CONSTRAINTS
CAPITAL MARKET
CERTIFIED PUBLIC ACCOUNTANTS
CHARTS OF ACCOUNTS
COMMERCIAL BANKS
COMPANY LAW
CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATION
CORPORATE GOVERNANCE
COST OF CAPITAL
CREDIT ASSOCIATIONS
CREDIT INSTITUTIONS
CREDIT RISKS
CURRENCY
DEPOSITS
DISCLOSURE REQUIREMENTS
EMPLOYMENT
ENABLING ENVIRONMENT
ENTERPRISE PERFORMANCE
ENTREPRENEURSHIP
EXTERNAL AUDITORS
EXTERNAL FUNDING
FINANCIAL CRISIS
FINANCIAL INFORMATION
FINANCIAL INSTITUTIONS
FINANCIAL MARKET
FINANCIAL MARKETS
FINANCIAL REPORTING
FINANCIAL REPORTING PERIOD
FINANCIAL REPORTING STANDARDS
FINANCIAL REPORTS
FINANCIAL STATEMENTS
FINANCIAL SYSTEM
FOREIGN DIRECT INVESTMENT
FOREIGN INVESTMENT
FOREIGN INVESTORS
GOOD PRACTICES
GOVERNANCE STANDARDS
GOVERNMENT FUNDING
HOLDING
HUMAN RESOURCE
HUMAN RESOURCES
IMAGE
INITIAL PUBLIC OFFERING
INSTITUTIONAL CAPACITY
INSURANCE
INSURANCE COMPANIES
INTERNAL AUDIT
INTERNATIONAL BANK
INTERNATIONAL STANDARDS
INVESTMENT CLIMATE
INVESTMENT FUNDS
IPO
JOINT STOCK COMPANY
JOINT-STOCK COMPANIES
JUDICIAL SYSTEM
LAWS
LEGAL FRAMEWORK
LEGISLATION
LEVEL OF CONFIDENCE
LIMITED LIABILITY
LIQUID ASSETS
LIQUIDATION
LOCAL INVESTORS
LOCAL MARKET
LONG-TERM INVESTMENT
MICRO ENTERPRISES
MICRO-FINANCE
MIGRATION
MONETARY FUND
PENALTIES
PENSION
PENSION FUNDS
PRIVATE FINANCE
PRIVATE INVESTMENT
PRIVATE INVESTMENTS
PRODUCTIVITY
PROFITABILITY
PRUDENTIAL REGULATIONS
PUBLIC AGENCIES
PUBLIC ASSETS
PUBLIC REGISTER
PUBLIC REGISTRY
QUALITY ASSURANCE
QUALITY AUDITS
QUALITY CONTROL
QUALITY STANDARDS
REGULATORY FRAMEWORK
REMITTANCE
REMITTANCES
SALES
SAVINGS
SECURITIES
SECURITIES MARKET
SHAREHOLDERS
SMALL BUSINESS
STATE ENTERPRISES
STATUTORY AUDITORS
STATUTORY REQUIREMENTS
STOCK EXCHANGE
SUBSIDIARIES
SUBSIDIARY
SUPERVISORY AUTHORITIES
TAX
TAX CODE
TAX COLLECTIONS
TAX PLANNING
TAXATION
TECHNICAL ASSISTANCE
THE NATIONAL BANK OF MOLDOVA
TRANSPARENCY
VALUATION
WITHDRAWAL
World Bank
Moldova : Reports on the Observance of Standards and Codes on Accounting and Auditing, Update
geographic_facet Europe and Central Asia
Moldova
description This assessment of accounting and auditing practices in Moldova is part of a joint initiative that is implemented by the World Bank and the International Monetary Fund to prepare Reports on the Observance of Standards and Codes (ROSC). The assessment focuses on the strengths and weaknesses of the accounting and auditing environment that influence the quality of corporate financial reporting, and includes a review of both statutory requirements and actual practice. It uses International Financial Reporting Standards (IFRS) and the International Standards on Auditing (ISA) as benchmarks and draws on international experience and good practices, as well as the European Union's acquis communautaire given Moldova's strategy of further integration with the European Union. In the medium term, improvement in Moldova's business environment is essential to put the country on a sustainable growth path. The strategic objective of this task is to support the Government in its efforts to improving the business environment in Moldova by contributing to an elevated level of competitiveness and productivity across the economy through business enterprises providing timely and reliable financial information, formulated according to internationally accepted standards, while also observing standards of governance that create confidence among local and foreign investors. These will enable companies to have greater access to finance, invest and increase their productivity. This assessment was drawn up at the request of the Government of Moldova and builds on the previous Accounting and Auditing ROSC that was prepared in 2004. The 2004 ROSC had the following objectives: (i) to spell out the ingredients of a good set of national accounting and auditing practices; (ii) to assess how Moldovan practices and its accounting profession perform relative to those practices; and (iii) to lay out the reforms needed to bring those practices and the profession into compliance with the generic model of good practices.
format Economic & Sector Work :: Accounting and Auditing Assessment (ROSC)
author World Bank
author_facet World Bank
author_sort World Bank
title Moldova : Reports on the Observance of Standards and Codes on Accounting and Auditing, Update
title_short Moldova : Reports on the Observance of Standards and Codes on Accounting and Auditing, Update
title_full Moldova : Reports on the Observance of Standards and Codes on Accounting and Auditing, Update
title_fullStr Moldova : Reports on the Observance of Standards and Codes on Accounting and Auditing, Update
title_full_unstemmed Moldova : Reports on the Observance of Standards and Codes on Accounting and Auditing, Update
title_sort moldova : reports on the observance of standards and codes on accounting and auditing, update
publisher Washington, DC
publishDate 2014
url http://documents.worldbank.org/curated/en/2013/06/18310007/moldova-reports-observance-standards-codes-rosc-accounting-auditing-update
http://hdl.handle.net/10986/16783
_version_ 1764434469225234432
spelling okr-10986-167832021-04-23T14:03:31Z Moldova : Reports on the Observance of Standards and Codes on Accounting and Auditing, Update World Bank ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANT ACCOUNTING ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING REFORM ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTS AFFILIATES AUDIT COMMITTEE AUDIT COMMITTEES AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BANK CREDIT BANKING SECTOR BANKS BORROWER BROKERS BUSINESS COMMUNITIES BUSINESS COMMUNITY BUSINESS ETHICS CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL MARKET CERTIFIED PUBLIC ACCOUNTANTS CHARTS OF ACCOUNTS COMMERCIAL BANKS COMPANY LAW CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CORPORATE GOVERNANCE COST OF CAPITAL CREDIT ASSOCIATIONS CREDIT INSTITUTIONS CREDIT RISKS CURRENCY DEPOSITS DISCLOSURE REQUIREMENTS EMPLOYMENT ENABLING ENVIRONMENT ENTERPRISE PERFORMANCE ENTREPRENEURSHIP EXTERNAL AUDITORS EXTERNAL FUNDING FINANCIAL CRISIS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL REPORTING FINANCIAL REPORTING PERIOD FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS GOOD PRACTICES GOVERNANCE STANDARDS GOVERNMENT FUNDING HOLDING HUMAN RESOURCE HUMAN RESOURCES IMAGE INITIAL PUBLIC OFFERING INSTITUTIONAL CAPACITY INSURANCE INSURANCE COMPANIES INTERNAL AUDIT INTERNATIONAL BANK INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTMENT FUNDS IPO JOINT STOCK COMPANY JOINT-STOCK COMPANIES JUDICIAL SYSTEM LAWS LEGAL FRAMEWORK LEGISLATION LEVEL OF CONFIDENCE LIMITED LIABILITY LIQUID ASSETS LIQUIDATION LOCAL INVESTORS LOCAL MARKET LONG-TERM INVESTMENT MICRO ENTERPRISES MICRO-FINANCE MIGRATION MONETARY FUND PENALTIES PENSION PENSION FUNDS PRIVATE FINANCE PRIVATE INVESTMENT PRIVATE INVESTMENTS PRODUCTIVITY PROFITABILITY PRUDENTIAL REGULATIONS PUBLIC AGENCIES PUBLIC ASSETS PUBLIC REGISTER PUBLIC REGISTRY QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL QUALITY STANDARDS REGULATORY FRAMEWORK REMITTANCE REMITTANCES SALES SAVINGS SECURITIES SECURITIES MARKET SHAREHOLDERS SMALL BUSINESS STATE ENTERPRISES STATUTORY AUDITORS STATUTORY REQUIREMENTS STOCK EXCHANGE SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITIES TAX TAX CODE TAX COLLECTIONS TAX PLANNING TAXATION TECHNICAL ASSISTANCE THE NATIONAL BANK OF MOLDOVA TRANSPARENCY VALUATION WITHDRAWAL This assessment of accounting and auditing practices in Moldova is part of a joint initiative that is implemented by the World Bank and the International Monetary Fund to prepare Reports on the Observance of Standards and Codes (ROSC). The assessment focuses on the strengths and weaknesses of the accounting and auditing environment that influence the quality of corporate financial reporting, and includes a review of both statutory requirements and actual practice. It uses International Financial Reporting Standards (IFRS) and the International Standards on Auditing (ISA) as benchmarks and draws on international experience and good practices, as well as the European Union's acquis communautaire given Moldova's strategy of further integration with the European Union. In the medium term, improvement in Moldova's business environment is essential to put the country on a sustainable growth path. The strategic objective of this task is to support the Government in its efforts to improving the business environment in Moldova by contributing to an elevated level of competitiveness and productivity across the economy through business enterprises providing timely and reliable financial information, formulated according to internationally accepted standards, while also observing standards of governance that create confidence among local and foreign investors. These will enable companies to have greater access to finance, invest and increase their productivity. This assessment was drawn up at the request of the Government of Moldova and builds on the previous Accounting and Auditing ROSC that was prepared in 2004. The 2004 ROSC had the following objectives: (i) to spell out the ingredients of a good set of national accounting and auditing practices; (ii) to assess how Moldovan practices and its accounting profession perform relative to those practices; and (iii) to lay out the reforms needed to bring those practices and the profession into compliance with the generic model of good practices. 2014-01-31T21:18:01Z 2014-01-31T21:18:01Z 2013-06-01 http://documents.worldbank.org/curated/en/2013/06/18310007/moldova-reports-observance-standards-codes-rosc-accounting-auditing-update http://hdl.handle.net/10986/16783 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 Europe and Central Asia Moldova