Republic of Uganda Report on the Observance of Standards and Codes : Accounting and Auditing
This second Report on the Observance of Standards and Codes (ROSC) Accounting and Auditing (A&A) assesses the degree to which the findings and policy recommendations of the first review have been implemented. The report identifies and assesses...
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| Format: | Economic & Sector Work |
| Language: | English en_US |
| Published: |
Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2014/01/24018833/uganda-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/21601 |
| Summary: | This second Report on the Observance of
Standards and Codes (ROSC) Accounting and Auditing (A&A)
assesses the degree to which the findings and policy
recommendations of the first review have been implemented.
The report identifies and assesses issues that have emerged
after the first review. From these assessments, the World
Bank team identifies the root causes of failure to implement
the proposed recommendations. It makes policy
recommendations aimed at further improving the quality of
financial reporting, which should contribute to lowering the
cost of borrowing and enhance private sector
competitiveness; ultimately contributing to the attainment
of Uganda s strategic objectives aimed at achieving; (i)
inclusive and sustainable growth, (ii) job creation, and
(iii) improved governance. These are themes in the 2012/2013
and 2013-2014 and Uganda National Budgets. Going forward,
the above key policy recommendations should form the basis
for a stakeholder driven Country Action Plan which should be
regularly monitored to ensure it is effectively implemented.
This will improve financial reporting in both the private
and public sector and therefore play a role in enhancing
transparency and accountability which are key ingredients in
attracting private sector investors and thus lead to
economic growth as well as improve on public service delivery. |
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