Organization of Eastern Carribbean States : Report on the Observance of Standards and Codes
This report provides an assessment of accounting, financial reporting and auditing requirements and practices within the enterprise and financial sectors in the Organization of Eastern Caribbean States (OECS). The report uses International Financia...
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| Format: | Economic & Sector Work |
| Language: | English en_US |
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Washington, DC
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2008/06/10546834/organization-eastern-carribbean-states-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7781 |
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okr-10986-7781 |
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| 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 |
ACCESS TO CREDIT ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING FIRM ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING RULES ACCOUNTS ACQUISITION ACQUISITIONS AFFILIATE ANNUAL RETURNS AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AVERAGE GROWTH AWARENESS CAMPAIGN BALANCE SHEET BALANCE SHEETS BANK LOAN BANK LOANS BANKERS ASSOCIATION BANKING INDUSTRY BANKING SECTOR BANKING SUPERVISION BANKRUPTCY BANKS BEST PRACTICES BONDS BOOKKEEPING BORROWER BUSINESS CLIMATE CALCULATION CAPITAL ADEQUACY CAPITAL MARKETS CASH FLOW CHECKS CIVIL SERVICE COLLATERAL COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKING COMMERCIAL BANKS COMMUNITY COLLEGES CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTRIBUTIONS CREDIT UNIONS CREDITORS CURRENCY CURRICULA CURRICULUM DEBT DEBTS DIRECT INVESTMENT DIRECT INVESTMENTS DISCLOSURE REQUIREMENTS EARNINGS EASTERN CARIBBEAN CENTRAL BANK ECONOMIC DEVELOPMENT EDUCATION PROGRAM EMPLOYEE BENEFITS EXTERNAL AUDITORS EXTERNAL FINANCING EXTERNAL SHOCKS FINANCIAL COMPANIES FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL POSITION FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL SERVICES INDUSTRY FINANCIAL STABILITY FINANCIAL SYSTEM FOREIGN BANKS GENERAL PUBLIC GOOD PRACTICE GOOD PRACTICES GROSS REVENUE HOME MORTGAGE INCOME INCOME STATEMENTS INDEBTEDNESS INSURANCE INSURANCE COMPANIES INTEREST PAYMENTS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL AUDITING STANDARDS INVESTMENT ADVISOR INVESTMENT COMPANIES LABOR MARKET LARGE COMPANIES LAWS LEGAL ADVICE LEGISLATION LENDERS LIABILITY LOCAL BANKS LOCAL BUSINESSES LOCAL GOVERNMENT LOCAL NEWSPAPER MANDATES MARKET DEMAND MARKET ECONOMY MARKET INCENTIVES MEDIUM ENTERPRISES MERGERS NATIONAL BANK NATIONAL INSURANCE NONPERFORMING LOANS OFFSHORE BANKING PEER REVIEW PENSION PENSION FUNDS POSSESSION PRESS RELEASE PRIVATE INVESTMENT PROBABILITY PRODUCTIVITY PRUDENTIAL REGULATIONS PUBLIC ACCOUNTANTS PUBLIC DEBT PUBLIC DISCLOSURE PUBLIC INFORMATION CAMPAIGN QUALITY ASSURANCE QUALITY CONTROL REDEMPTION REGULATORY FRAMEWORK RESPONSIBILITIES RISK FACTORS RISK MANAGEMENT SCHOLARSHIPS SECONDARY EDUCATION SECURITIES SENIOR SKILLED WORKERS STAKEHOLDER STAKEHOLDERS STATUTORY AUDITORS STOCK EXCHANGE STOCK EXCHANGES SUPERVISORY AGENCIES TECHNICAL ASSISTANCE TRADE UNIONS TRAINING COURSE TRAINING PROGRAM TRAINING PROGRAMS UNAUDITED FINANCIAL STATEMENTS UNEMPLOYMENT VALUATION WAGES |
| spellingShingle |
ACCESS TO CREDIT ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING FIRM ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING RULES ACCOUNTS ACQUISITION ACQUISITIONS AFFILIATE ANNUAL RETURNS AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AVERAGE GROWTH AWARENESS CAMPAIGN BALANCE SHEET BALANCE SHEETS BANK LOAN BANK LOANS BANKERS ASSOCIATION BANKING INDUSTRY BANKING SECTOR BANKING SUPERVISION BANKRUPTCY BANKS BEST PRACTICES BONDS BOOKKEEPING BORROWER BUSINESS CLIMATE CALCULATION CAPITAL ADEQUACY CAPITAL MARKETS CASH FLOW CHECKS CIVIL SERVICE COLLATERAL COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKING COMMERCIAL BANKS COMMUNITY COLLEGES CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTRIBUTIONS CREDIT UNIONS CREDITORS CURRENCY CURRICULA CURRICULUM DEBT DEBTS DIRECT INVESTMENT DIRECT INVESTMENTS DISCLOSURE REQUIREMENTS EARNINGS EASTERN CARIBBEAN CENTRAL BANK ECONOMIC DEVELOPMENT EDUCATION PROGRAM EMPLOYEE BENEFITS EXTERNAL AUDITORS EXTERNAL FINANCING EXTERNAL SHOCKS FINANCIAL COMPANIES FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL POSITION FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL SERVICES INDUSTRY FINANCIAL STABILITY FINANCIAL SYSTEM FOREIGN BANKS GENERAL PUBLIC GOOD PRACTICE GOOD PRACTICES GROSS REVENUE HOME MORTGAGE INCOME INCOME STATEMENTS INDEBTEDNESS INSURANCE INSURANCE COMPANIES INTEREST PAYMENTS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL AUDITING STANDARDS INVESTMENT ADVISOR INVESTMENT COMPANIES LABOR MARKET LARGE COMPANIES LAWS LEGAL ADVICE LEGISLATION LENDERS LIABILITY LOCAL BANKS LOCAL BUSINESSES LOCAL GOVERNMENT LOCAL NEWSPAPER MANDATES MARKET DEMAND MARKET ECONOMY MARKET INCENTIVES MEDIUM ENTERPRISES MERGERS NATIONAL BANK NATIONAL INSURANCE NONPERFORMING LOANS OFFSHORE BANKING PEER REVIEW PENSION PENSION FUNDS POSSESSION PRESS RELEASE PRIVATE INVESTMENT PROBABILITY PRODUCTIVITY PRUDENTIAL REGULATIONS PUBLIC ACCOUNTANTS PUBLIC DEBT PUBLIC DISCLOSURE PUBLIC INFORMATION CAMPAIGN QUALITY ASSURANCE QUALITY CONTROL REDEMPTION REGULATORY FRAMEWORK RESPONSIBILITIES RISK FACTORS RISK MANAGEMENT SCHOLARSHIPS SECONDARY EDUCATION SECURITIES SENIOR SKILLED WORKERS STAKEHOLDER STAKEHOLDERS STATUTORY AUDITORS STOCK EXCHANGE STOCK EXCHANGES SUPERVISORY AGENCIES TECHNICAL ASSISTANCE TRADE UNIONS TRAINING COURSE TRAINING PROGRAM TRAINING PROGRAMS UNAUDITED FINANCIAL STATEMENTS UNEMPLOYMENT VALUATION WAGES World Bank Organization of Eastern Carribbean States : Report on the Observance of Standards and Codes |
| geographic_facet |
Latin America & Caribbean |
| description |
This report provides an assessment of
accounting, financial reporting and auditing requirements
and practices within the enterprise and financial sectors in
the Organization of Eastern Caribbean States (OECS). The
report uses International Financial Reporting Standards
(IFRS) and International Standards on Auditing (ISA) as
benchmarks and draws on international experience and good
practices in the field of accounting and audit regulation.
High-quality financial information supports relevant
strategic objectives for the OECS, including: (1) an
investor-friendly business climate; (2) sub-regional and
regional harmonization; (3) better management and increased
transparency of public-interest enterprises; and (4)
improved Small and Medium Enterprise (SME) access to credit
as an outgrowth of a shift toward lending based on the
borrower's financial performance and cash flow. Due to
their small size (total population about 560,000) and their
tropical island geography, OECS countries face special
development challenges, including limited human and
institutional capacity, high per capita costs of basic
social and infrastructure services, and vulnerability to
natural disasters and other external shocks. High levels of
indebtedness and fiscal imbalance are additional factors
affecting growth and crowding out private investment. These
constraints significantly affect the strategic planning and
decision-making processes in both the public and private
sectors and make capacity issues more significant than in
larger countries. The OECS accounting and auditing practices
need to be strengthened and modernized to serve adequately
the emerging needs of the market and support sustainable
economic development. |
| format |
Economic & Sector Work |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Organization of Eastern Carribbean States : Report on the Observance of Standards and Codes |
| title_short |
Organization of Eastern Carribbean States : Report on the Observance of Standards and Codes |
| title_full |
Organization of Eastern Carribbean States : Report on the Observance of Standards and Codes |
| title_fullStr |
Organization of Eastern Carribbean States : Report on the Observance of Standards and Codes |
| title_full_unstemmed |
Organization of Eastern Carribbean States : Report on the Observance of Standards and Codes |
| title_sort |
organization of eastern carribbean states : report on the observance of standards and codes |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2008/06/10546834/organization-eastern-carribbean-states-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7781 |
| _version_ |
1764403072804585472 |
| spelling |
okr-10986-77812021-04-23T14:02:35Z Organization of Eastern Carribbean States : Report on the Observance of Standards and Codes World Bank ACCESS TO CREDIT ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING FIRM ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING RULES ACCOUNTS ACQUISITION ACQUISITIONS AFFILIATE ANNUAL RETURNS AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AVERAGE GROWTH AWARENESS CAMPAIGN BALANCE SHEET BALANCE SHEETS BANK LOAN BANK LOANS BANKERS ASSOCIATION BANKING INDUSTRY BANKING SECTOR BANKING SUPERVISION BANKRUPTCY BANKS BEST PRACTICES BONDS BOOKKEEPING BORROWER BUSINESS CLIMATE CALCULATION CAPITAL ADEQUACY CAPITAL MARKETS CASH FLOW CHECKS CIVIL SERVICE COLLATERAL COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKING COMMERCIAL BANKS COMMUNITY COLLEGES CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTRIBUTIONS CREDIT UNIONS CREDITORS CURRENCY CURRICULA CURRICULUM DEBT DEBTS DIRECT INVESTMENT DIRECT INVESTMENTS DISCLOSURE REQUIREMENTS EARNINGS EASTERN CARIBBEAN CENTRAL BANK ECONOMIC DEVELOPMENT EDUCATION PROGRAM EMPLOYEE BENEFITS EXTERNAL AUDITORS EXTERNAL FINANCING EXTERNAL SHOCKS FINANCIAL COMPANIES FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL POSITION FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL SERVICES INDUSTRY FINANCIAL STABILITY FINANCIAL SYSTEM FOREIGN BANKS GENERAL PUBLIC GOOD PRACTICE GOOD PRACTICES GROSS REVENUE HOME MORTGAGE INCOME INCOME STATEMENTS INDEBTEDNESS INSURANCE INSURANCE COMPANIES INTEREST PAYMENTS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL AUDITING STANDARDS INVESTMENT ADVISOR INVESTMENT COMPANIES LABOR MARKET LARGE COMPANIES LAWS LEGAL ADVICE LEGISLATION LENDERS LIABILITY LOCAL BANKS LOCAL BUSINESSES LOCAL GOVERNMENT LOCAL NEWSPAPER MANDATES MARKET DEMAND MARKET ECONOMY MARKET INCENTIVES MEDIUM ENTERPRISES MERGERS NATIONAL BANK NATIONAL INSURANCE NONPERFORMING LOANS OFFSHORE BANKING PEER REVIEW PENSION PENSION FUNDS POSSESSION PRESS RELEASE PRIVATE INVESTMENT PROBABILITY PRODUCTIVITY PRUDENTIAL REGULATIONS PUBLIC ACCOUNTANTS PUBLIC DEBT PUBLIC DISCLOSURE PUBLIC INFORMATION CAMPAIGN QUALITY ASSURANCE QUALITY CONTROL REDEMPTION REGULATORY FRAMEWORK RESPONSIBILITIES RISK FACTORS RISK MANAGEMENT SCHOLARSHIPS SECONDARY EDUCATION SECURITIES SENIOR SKILLED WORKERS STAKEHOLDER STAKEHOLDERS STATUTORY AUDITORS STOCK EXCHANGE STOCK EXCHANGES SUPERVISORY AGENCIES TECHNICAL ASSISTANCE TRADE UNIONS TRAINING COURSE TRAINING PROGRAM TRAINING PROGRAMS UNAUDITED FINANCIAL STATEMENTS UNEMPLOYMENT VALUATION WAGES This report provides an assessment of accounting, financial reporting and auditing requirements and practices within the enterprise and financial sectors in the Organization of Eastern Caribbean States (OECS). The report uses International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks and draws on international experience and good practices in the field of accounting and audit regulation. High-quality financial information supports relevant strategic objectives for the OECS, including: (1) an investor-friendly business climate; (2) sub-regional and regional harmonization; (3) better management and increased transparency of public-interest enterprises; and (4) improved Small and Medium Enterprise (SME) access to credit as an outgrowth of a shift toward lending based on the borrower's financial performance and cash flow. Due to their small size (total population about 560,000) and their tropical island geography, OECS countries face special development challenges, including limited human and institutional capacity, high per capita costs of basic social and infrastructure services, and vulnerability to natural disasters and other external shocks. High levels of indebtedness and fiscal imbalance are additional factors affecting growth and crowding out private investment. These constraints significantly affect the strategic planning and decision-making processes in both the public and private sectors and make capacity issues more significant than in larger countries. The OECS accounting and auditing practices need to be strengthened and modernized to serve adequately the emerging needs of the market and support sustainable economic development. 2012-06-12T14:40:51Z 2012-06-12T14:40:51Z 2008-06-21 http://documents.worldbank.org/curated/en/2008/06/10546834/organization-eastern-carribbean-states-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7781 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) Latin America & Caribbean |