Honduras : Accounting and Auditing

Honduras : Accounting and Auditing

This report analyzes corporate financial reporting and auditing practices in Honduras in support of the Government's efforts to : (a) improve the business environment and make it more attractive for domestic and foreign direct investment; (b)...

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Bibliographic Details
Main Author:	World Bank
Format:	Accounting and Auditing Assessment (ROSC)
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCESS TO CREDIT ACCOUNTANCY ACCOUNTANT ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING CURRICULUM ACCOUNTING PRINCIPLES ACCOUNTING PROCEDURES ACCOUNTING RECORDS ACCOUNTING RULES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTING SYSTEMS ACCOUNTING TREATMENT ACCOUNTS ACCURATE INFORMATION AUDIT COMMITTEE AUDIT COMMITTEES AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PRINCIPLES AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BALANCE SHEETS BANK BORROWINGS BANKING REGULATIONS BANKING SECTOR BANKING SYSTEM BANKS BID BOARDS OF DIRECTORS BONDED WAREHOUSES BOOKKEEPING BORROWER BORROWING BORROWINGS BROKERAGE BROKERAGE FIRMS BROKERS BUDGET DEFICITS BUSINESS CLIMATE BUSINESS COMBINATIONS BUSINESS COMMUNITY BUSINESS SECRETS CAPACITY BUILDING CAPITAL REQUIREMENTS CASH FLOW CENTRAL BANK CENTRAL BANK NOTES CHARTS OF ACCOUNTS CIVIL LAW COLLATERAL COMMERCIAL BANKS COMMERCIAL CODE COMMERCIAL LAW CONFLICTS OF INTEREST CORPORATE BORROWER CORPORATE BORROWERS CORPORATE GOVERNANCE CORPORATE LAW COST OF CREDIT CREDIBILITY CREDIT RISK CREDIT RISKS CREDIT SCORING CREDITORS CURRENCY DEBT RELIEF DEBTS DERIVATIVE DEVELOPMENT BANK DIRECT INVESTMENT DOMESTIC MARKETS DUE DILIGENCE EARNINGS EDUCATION STANDARDS EMPLOYEE BENEFITS ENTRY REQUIREMENTS EXTERNAL SHOCKS FINANCIAL COMPANIES FINANCIAL CRISIS FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL PICTURE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL RESOURCE FINANCIAL RESOURCES FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SITUATION FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL DEFICIT FIXED COSTS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN FINANCIAL INSTITUTIONS FOREIGN INTERESTS FOREIGN INVESTMENT FOREIGN INVESTORS FRAUD GAAP GOOD PRACTICE GRANT FUNDING HUMAN RESOURCES IMAGE INCOME INCOME TAXES INCOMES INDEBTEDNESS INFORMATION SYSTEM INFORMATION SYSTEMS INFORMATION TECHNOLOGY INSTITUTIONAL CAPACITY INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE MARKET INSURANCE POLICY INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL BANKING INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL INVESTORS INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTMENT FUND INVESTMENT FUNDS INVESTMENT RETURNS INVESTOR CONFIDENCE LACK OF INTEREST LARGE BANK LARGE BUSINESS LARGE COMPANY LENDERS LIABILITY LIFE INSURANCE LIMITED LIABILITY LIQUIDITY LIQUIDITY CONSTRAINTS LOAN LOCAL BANKS LOCAL BUSINESS LOCAL EXCHANGE MACROECONOMIC STABILITY MEDIUM ENTERPRISES MICRO-ENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MOBILE PHONE MONETARY FUND OIL PRICES OPEN ECONOMY OWNERSHIP INTEREST OWNERSHIP STRUCTURE PARENT COMPANY PENSION COVERAGE PENSION FUNDS PENSION SECTOR POTENTIAL INVESTMENT POTENTIAL INVESTORS PRIVATE BANKS PRIVATE INVESTMENT PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE SAVINGS PROCUREMENT PROFESSIONAL ASSOCIATIONS PUBLIC ACCOUNTANTS PUBLIC DEBT PUBLIC SECTOR FISCAL DEFICIT PUBLIC SPENDING QUALITY ASSURANCE QUALITY CONTROL REGISTRATION SYSTEM REGULATORY FORBEARANCE REGULATORY FRAMEWORK RESPONSIBILITIES RETIREMENT RETIREMENT FUNDS RETIREMENT PENSION RULE OF LAW SALE SECONDARY EDUCATION SECURITIES SECURITIES MARKET SHAREHOLDERS SOCIAL CAPITAL SOCIAL INSURANCE STAKEHOLDER STAKEHOLDERS STATE UNIVERSITY STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET TAX TAX COLLECTIONS TAX RULES TELECOMMUNICATIONS TRADING TRANSACTION TRANSPARENCY TREASURY TREASURY BONDS TREATY UNEMPLOYMENT VALUATION
Online Access:	http://documents.worldbank.org/curated/en/2007/05/9161603/honduras-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7712

Description
Summary:	This report analyzes corporate financial reporting and auditing practices in Honduras in support of the Government's efforts to : (a) improve the business environment and make it more attractive for domestic and foreign direct investment; (b) enhance financial transparency and governance in the corporate sector; and (c) foster economic integration within the Latin America and Caribbean Region (LCR). For the purpose of this study, relevant benchmarks have been used, including the International Financial Reporting Standards (IFRS) and the International Standards on Auditing (ISA). The report also draws on international experience and good practice in those fields, particularly in LCR. Accounting and auditing (A&A) standards and practices in Honduras have been improving; however, continued efforts to align these with international ones are still needed. The review focuses on the strengths and weaknesses of the accounting and auditing environment in the corporate sector (which includes private companies and state-owned enterprises) and how they influence the quality of corporate financial reporting.