Maldives - Public Sector Accounting and Auditing : A Comparison to International Standards

This assessment of public sector accounting and auditing standards purpose is to assist with the implementation of more effective public financial management (PFM) through better quality accounting and public audit processes in Maldives. The specif...

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Bibliographic Details
Main Author: World Bank
Format: Other Financial Accountability Study
Language:English
Published: Washington, DC 2012
Subjects:
Online Access:http://documents.worldbank.org/curated/en/2007/06/8185140/maldives-public-sector-accounting-auditing-comparison-international-standards
http://hdl.handle.net/10986/7822
id okr-10986-7822
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
topic ACCOUNT
ACCOUNTABLE GOVERNMENT
ACCOUNTANCY
ACCOUNTANTS
ACCOUNTING
ACCOUNTING FIRMS
ACCOUNTING POLICIES
ACCOUNTING PRACTICES
ACCOUNTING STANDARDS
ACCOUNTING SYSTEM
ACCOUNTS
ACCRUAL ACCOUNTING
ACCRUAL BASIS
ADMINISTRATIVE FRAMEWORK
ANNUAL FINANCIAL STATEMENTS
ANNUAL PERFORMANCE
ANNUAL REPORT
ANNUAL REPORTING
ANNUAL REPORTS
ANNUAL STATEMENT
ANNUAL STATEMENTS
ARTICLE
ATTESTATION
AUDIT DEPARTMENTS
AUDIT ENGAGEMENTS
AUDIT EVIDENCE
AUDIT OFFICE
AUDIT REPORTS
AUDITED ACCOUNTS
AUDITED FINANCIAL STATEMENTS
AUDITING
AUDITING PROFESSION
AUDITING STANDARDS
AUDITOR GENERAL
AUDITOR-GENERAL
AUDITORS
AUDITS
BALANCE SHEET
BANKS
BENEFIT PLANS
BONDS
BORROWING
BUDGET MANAGEMENT
BUDGETING
BUSINESS COMBINATIONS
CAPACITY BUILDING
CAPACITY-BUILDING
CASH BASIS
CASH FLOW
CASH FLOWS
CASH POSITION
COMPUTERIZED ACCOUNTING SYSTEMS
CONTINGENT LIABILITIES
CONTRIBUTION
CURRICULA
DEBT
DECISION-MAKING
DEPRECIATION
DEVELOPMENT BANK
DIAGNOSTIC TOOL
DISTANCE LEARNING
DUE DILIGENCE
EARNINGS
ECONOMIC DEVELOPMENT
EDUCATION PROGRAMS
EDUCATION STANDARDS
EMPLOYEE BENEFITS
EXCHANGE RATES
EXPENDITURE
EXPENDITURE POLICIES
EXPENDITURES
EXTERNAL AUDIT
FINANCIAL ACCOUNTABILITY
FINANCIAL ACTIVITIES
FINANCIAL APPROACH
FINANCIAL COMPLIANCE
FINANCIAL IMPACT
FINANCIAL INFORMATION
FINANCIAL INSTRUMENTS
FINANCIAL MANAGEMENT
FINANCIAL POSITION
FINANCIAL REGULATIONS
FINANCIAL REPORTING
FINANCIAL REPORTING STANDARDS
FINANCIAL REPORTS
FINANCIAL STATEMENT
FINANCIAL STATEMENTS
FINANCIAL SYSTEMS
FISCAL AFFAIRS
FOREIGN CURRENCY
FOREIGN EXCHANGE
GOOD PRACTICE
GOVERNMENT ACCOUNTING
GOVERNMENT ASSISTANCE
GOVERNMENT AUDITING
GOVERNMENT BUDGET
GOVERNMENT EMPLOYMENT
GOVERNMENT GRANTS
GOVERNMENT SPENDING
INCOME
INCOME TAXES
INDEPENDENT AUDITOR
INSURANCE
INTANGIBLE ASSETS
INTERNAL AUDIT
INTERNAL AUDITING
INTERNAL CONTROL
INTERNAL CONTROL SYSTEMS
INTERNAL CONTROLS
INTERNATIONAL ACCOUNTING STANDARDS
LIABILITY
LOAN
MEMBER COUNTRIES
MINISTRY OF FINANCE
MONEYS
NATIONAL ACCOUNTING
NATIONAL AUDIT
NATIONAL GOVERNMENT
NET SURPLUS
OUTREACH PROGRAMS
PENSIONS
PERFORMANCE AUDIT
PERFORMANCE MEASUREMENT
PERFORMANCE MEASURES
PERFORMANCE TARGETS
PRIVATE SECTOR
PROGRAM MANAGERS
PROGRAMS
PUBLIC ACCOUNTABILITY
PUBLIC ACCOUNTING
PUBLIC ACCOUNTS
PUBLIC DISCLOSURE
PUBLIC ENTERPRISE
PUBLIC ENTERPRISES
PUBLIC EXPENDITURE
PUBLIC FINANCE
PUBLIC FINANCIAL MANAGEMENT
PUBLIC INTEREST
PUBLIC MONEY
PUBLIC RESOURCES
PUBLIC SECTOR
PUBLIC SECTOR ACCOUNTING
PUBLIC SECTOR ENTITIES
PUBLIC SERVICE
QUALITY ASSURANCE
QUALITY CONTROL
QUESTIONNAIRES
REPAYMENT
REPORTING SYSTEMS
RESPONSIBILITIES
RETIREMENT
RETIREMENT BENEFIT
RISK ASSESSMENTS
SALARIES
SALARY
SALE
SALES
SECURITIES
SENIOR
SERVICE ORGANIZATIONS
SOUND FINANCIAL MANAGEMENT
SOUND FINANCIAL PRACTICES
STAKEHOLDERS
SUPPORT PROGRAM
SUPREME AUDIT INSTITUTION
SUPREME AUDIT INSTITUTIONS
TERMINATION
TERMINATIONS
TRAINING COURSE
TRAINING PROGRAM
TRAINING PROGRAMS
TRANSPARENCY
TRUE COSTS
spellingShingle ACCOUNT
ACCOUNTABLE GOVERNMENT
ACCOUNTANCY
ACCOUNTANTS
ACCOUNTING
ACCOUNTING FIRMS
ACCOUNTING POLICIES
ACCOUNTING PRACTICES
ACCOUNTING STANDARDS
ACCOUNTING SYSTEM
ACCOUNTS
ACCRUAL ACCOUNTING
ACCRUAL BASIS
ADMINISTRATIVE FRAMEWORK
ANNUAL FINANCIAL STATEMENTS
ANNUAL PERFORMANCE
ANNUAL REPORT
ANNUAL REPORTING
ANNUAL REPORTS
ANNUAL STATEMENT
ANNUAL STATEMENTS
ARTICLE
ATTESTATION
AUDIT DEPARTMENTS
AUDIT ENGAGEMENTS
AUDIT EVIDENCE
AUDIT OFFICE
AUDIT REPORTS
AUDITED ACCOUNTS
AUDITED FINANCIAL STATEMENTS
AUDITING
AUDITING PROFESSION
AUDITING STANDARDS
AUDITOR GENERAL
AUDITOR-GENERAL
AUDITORS
AUDITS
BALANCE SHEET
BANKS
BENEFIT PLANS
BONDS
BORROWING
BUDGET MANAGEMENT
BUDGETING
BUSINESS COMBINATIONS
CAPACITY BUILDING
CAPACITY-BUILDING
CASH BASIS
CASH FLOW
CASH FLOWS
CASH POSITION
COMPUTERIZED ACCOUNTING SYSTEMS
CONTINGENT LIABILITIES
CONTRIBUTION
CURRICULA
DEBT
DECISION-MAKING
DEPRECIATION
DEVELOPMENT BANK
DIAGNOSTIC TOOL
DISTANCE LEARNING
DUE DILIGENCE
EARNINGS
ECONOMIC DEVELOPMENT
EDUCATION PROGRAMS
EDUCATION STANDARDS
EMPLOYEE BENEFITS
EXCHANGE RATES
EXPENDITURE
EXPENDITURE POLICIES
EXPENDITURES
EXTERNAL AUDIT
FINANCIAL ACCOUNTABILITY
FINANCIAL ACTIVITIES
FINANCIAL APPROACH
FINANCIAL COMPLIANCE
FINANCIAL IMPACT
FINANCIAL INFORMATION
FINANCIAL INSTRUMENTS
FINANCIAL MANAGEMENT
FINANCIAL POSITION
FINANCIAL REGULATIONS
FINANCIAL REPORTING
FINANCIAL REPORTING STANDARDS
FINANCIAL REPORTS
FINANCIAL STATEMENT
FINANCIAL STATEMENTS
FINANCIAL SYSTEMS
FISCAL AFFAIRS
FOREIGN CURRENCY
FOREIGN EXCHANGE
GOOD PRACTICE
GOVERNMENT ACCOUNTING
GOVERNMENT ASSISTANCE
GOVERNMENT AUDITING
GOVERNMENT BUDGET
GOVERNMENT EMPLOYMENT
GOVERNMENT GRANTS
GOVERNMENT SPENDING
INCOME
INCOME TAXES
INDEPENDENT AUDITOR
INSURANCE
INTANGIBLE ASSETS
INTERNAL AUDIT
INTERNAL AUDITING
INTERNAL CONTROL
INTERNAL CONTROL SYSTEMS
INTERNAL CONTROLS
INTERNATIONAL ACCOUNTING STANDARDS
LIABILITY
LOAN
MEMBER COUNTRIES
MINISTRY OF FINANCE
MONEYS
NATIONAL ACCOUNTING
NATIONAL AUDIT
NATIONAL GOVERNMENT
NET SURPLUS
OUTREACH PROGRAMS
PENSIONS
PERFORMANCE AUDIT
PERFORMANCE MEASUREMENT
PERFORMANCE MEASURES
PERFORMANCE TARGETS
PRIVATE SECTOR
PROGRAM MANAGERS
PROGRAMS
PUBLIC ACCOUNTABILITY
PUBLIC ACCOUNTING
PUBLIC ACCOUNTS
PUBLIC DISCLOSURE
PUBLIC ENTERPRISE
PUBLIC ENTERPRISES
PUBLIC EXPENDITURE
PUBLIC FINANCE
PUBLIC FINANCIAL MANAGEMENT
PUBLIC INTEREST
PUBLIC MONEY
PUBLIC RESOURCES
PUBLIC SECTOR
PUBLIC SECTOR ACCOUNTING
PUBLIC SECTOR ENTITIES
PUBLIC SERVICE
QUALITY ASSURANCE
QUALITY CONTROL
QUESTIONNAIRES
REPAYMENT
REPORTING SYSTEMS
RESPONSIBILITIES
RETIREMENT
RETIREMENT BENEFIT
RISK ASSESSMENTS
SALARIES
SALARY
SALE
SALES
SECURITIES
SENIOR
SERVICE ORGANIZATIONS
SOUND FINANCIAL MANAGEMENT
SOUND FINANCIAL PRACTICES
STAKEHOLDERS
SUPPORT PROGRAM
SUPREME AUDIT INSTITUTION
SUPREME AUDIT INSTITUTIONS
TERMINATION
TERMINATIONS
TRAINING COURSE
TRAINING PROGRAM
TRAINING PROGRAMS
TRANSPARENCY
TRUE COSTS
World Bank
Maldives - Public Sector Accounting and Auditing : A Comparison to International Standards
geographic_facet South Asia
Maldives
description This assessment of public sector accounting and auditing standards purpose is to assist with the implementation of more effective public financial management (PFM) through better quality accounting and public audit processes in Maldives. The specific objectives are (a) to provide the country's accounting and audit authorities and other interested stakeholders with a common well-based knowledge as to where local practices stand in comparison with internationally developed standards of financial reporting and audit; (b) to assess the prevailing variances; (c) to chart paths to reduce the variances; and (d) to provide a continuing basis for measuring improvements. Annex A explains the methodology used for the study. Annex B provides a summary of international accounting and auditing standards referred to in this study. Annex C and D provide country accounting and auditing legislation, respectively. Lastly, Annex E includes a description of the benefits of accrual accounting.
format Economic & Sector Work :: Other Financial Accountability Study
author World Bank
author_facet World Bank
author_sort World Bank
title Maldives - Public Sector Accounting and Auditing : A Comparison to International Standards
title_short Maldives - Public Sector Accounting and Auditing : A Comparison to International Standards
title_full Maldives - Public Sector Accounting and Auditing : A Comparison to International Standards
title_fullStr Maldives - Public Sector Accounting and Auditing : A Comparison to International Standards
title_full_unstemmed Maldives - Public Sector Accounting and Auditing : A Comparison to International Standards
title_sort maldives - public sector accounting and auditing : a comparison to international standards
publisher Washington, DC
publishDate 2012
url http://documents.worldbank.org/curated/en/2007/06/8185140/maldives-public-sector-accounting-auditing-comparison-international-standards
http://hdl.handle.net/10986/7822
_version_ 1764404061193371648
spelling okr-10986-78222021-04-23T14:02:37Z Maldives - Public Sector Accounting and Auditing : A Comparison to International Standards World Bank ACCOUNT ACCOUNTABLE GOVERNMENT ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING FIRMS ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING STANDARDS ACCOUNTING SYSTEM ACCOUNTS ACCRUAL ACCOUNTING ACCRUAL BASIS ADMINISTRATIVE FRAMEWORK ANNUAL FINANCIAL STATEMENTS ANNUAL PERFORMANCE ANNUAL REPORT ANNUAL REPORTING ANNUAL REPORTS ANNUAL STATEMENT ANNUAL STATEMENTS ARTICLE ATTESTATION AUDIT DEPARTMENTS AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT OFFICE AUDIT REPORTS AUDITED ACCOUNTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITOR GENERAL AUDITOR-GENERAL AUDITORS AUDITS BALANCE SHEET BANKS BENEFIT PLANS BONDS BORROWING BUDGET MANAGEMENT BUDGETING BUSINESS COMBINATIONS CAPACITY BUILDING CAPACITY-BUILDING CASH BASIS CASH FLOW CASH FLOWS CASH POSITION COMPUTERIZED ACCOUNTING SYSTEMS CONTINGENT LIABILITIES CONTRIBUTION CURRICULA DEBT DECISION-MAKING DEPRECIATION DEVELOPMENT BANK DIAGNOSTIC TOOL DISTANCE LEARNING DUE DILIGENCE EARNINGS ECONOMIC DEVELOPMENT EDUCATION PROGRAMS EDUCATION STANDARDS EMPLOYEE BENEFITS EXCHANGE RATES EXPENDITURE EXPENDITURE POLICIES EXPENDITURES EXTERNAL AUDIT FINANCIAL ACCOUNTABILITY FINANCIAL ACTIVITIES FINANCIAL APPROACH FINANCIAL COMPLIANCE FINANCIAL IMPACT FINANCIAL INFORMATION FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL POSITION FINANCIAL REGULATIONS FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEMS FISCAL AFFAIRS FOREIGN CURRENCY FOREIGN EXCHANGE GOOD PRACTICE GOVERNMENT ACCOUNTING GOVERNMENT ASSISTANCE GOVERNMENT AUDITING GOVERNMENT BUDGET GOVERNMENT EMPLOYMENT GOVERNMENT GRANTS GOVERNMENT SPENDING INCOME INCOME TAXES INDEPENDENT AUDITOR INSURANCE INTANGIBLE ASSETS INTERNAL AUDIT INTERNAL AUDITING INTERNAL CONTROL INTERNAL CONTROL SYSTEMS INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS LIABILITY LOAN MEMBER COUNTRIES MINISTRY OF FINANCE MONEYS NATIONAL ACCOUNTING NATIONAL AUDIT NATIONAL GOVERNMENT NET SURPLUS OUTREACH PROGRAMS PENSIONS PERFORMANCE AUDIT PERFORMANCE MEASUREMENT PERFORMANCE MEASURES PERFORMANCE TARGETS PRIVATE SECTOR PROGRAM MANAGERS PROGRAMS PUBLIC ACCOUNTABILITY PUBLIC ACCOUNTING PUBLIC ACCOUNTS PUBLIC DISCLOSURE PUBLIC ENTERPRISE PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC INTEREST PUBLIC MONEY PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SECTOR ENTITIES PUBLIC SERVICE QUALITY ASSURANCE QUALITY CONTROL QUESTIONNAIRES REPAYMENT REPORTING SYSTEMS RESPONSIBILITIES RETIREMENT RETIREMENT BENEFIT RISK ASSESSMENTS SALARIES SALARY SALE SALES SECURITIES SENIOR SERVICE ORGANIZATIONS SOUND FINANCIAL MANAGEMENT SOUND FINANCIAL PRACTICES STAKEHOLDERS SUPPORT PROGRAM SUPREME AUDIT INSTITUTION SUPREME AUDIT INSTITUTIONS TERMINATION TERMINATIONS TRAINING COURSE TRAINING PROGRAM TRAINING PROGRAMS TRANSPARENCY TRUE COSTS This assessment of public sector accounting and auditing standards purpose is to assist with the implementation of more effective public financial management (PFM) through better quality accounting and public audit processes in Maldives. The specific objectives are (a) to provide the country's accounting and audit authorities and other interested stakeholders with a common well-based knowledge as to where local practices stand in comparison with internationally developed standards of financial reporting and audit; (b) to assess the prevailing variances; (c) to chart paths to reduce the variances; and (d) to provide a continuing basis for measuring improvements. Annex A explains the methodology used for the study. Annex B provides a summary of international accounting and auditing standards referred to in this study. Annex C and D provide country accounting and auditing legislation, respectively. Lastly, Annex E includes a description of the benefits of accrual accounting. 2012-06-12T16:21:46Z 2012-06-12T16:21:46Z 2007-06 http://documents.worldbank.org/curated/en/2007/06/8185140/maldives-public-sector-accounting-auditing-comparison-international-standards http://hdl.handle.net/10986/7822 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Other Financial Accountability Study Economic & Sector Work South Asia Maldives