Ethiopia : Accounting and Auditing

This Report on Observance of Standards and Codes (ROSC) provides a review of the accounting and auditing practices and the institutions underpinning the accounting and auditing environment in the corporate sector in Ethiopia. The review drew on be...

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Bibliographic Details
Main Author:	World Bank
Format:	Accounting and Auditing Assessment (ROSC)
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ACCOUNT ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING STANDARDS ACCOUNTS ADEQUATE DISCLOSURE AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROCEDURES AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BANKING ASSETS BANKING SECTOR BANKING SECTOR ASSETS BANKING SUPERVISION BANKS BUSINESS COMMUNITY BUSINESS ETHICS BUSINESS LICENSES BUSINESS ORGANIZATION CAPACITY BUILDING CAPACITY CONSTRAINTS CASH FLOW CENTRAL BANK CHECKS CIVIL SERVICE COLLATERAL COMMERCIAL CODE CONSOLIDATED FINANCIAL STATEMENTS CORPORATE GOVERNANCE CREDIBILITY CREDITORS CURRENCY DEFERRED INCOME DEVELOPING COUNTRIES DEVELOPMENT BANK DUE DILIGENCE ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ENFORCEMENT MECHANISMS EQUIPMENT EXCHANGE RATE EXCHANGE RATES EXPENDITURES FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL RISKS FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEMS FINANCIAL YEARS FOREIGN EXCHANGE FRAUDS GAAP GOOD PRACTICE GOOD PRACTICES GOVERNANCE ISSUES HOLDING HUMAN RESOURCE HUMAN RESOURCES INCOME TAX INCOME TAXES INSURANCE INSURANCE COMPANIES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL DEVELOPMENTS INTERNATIONAL MARKET INTERNATIONAL STANDARDS INVENTORIES INVENTORY INVESTMENT DECISIONS ISSUANCE LAWS LEASE PAYMENTS LEGISLATION LIABILITY LIMITED LIABILITY LOAN LOCAL ECONOMY LOSS STATEMENT MARKET PARTICIPANTS MICROFINANCE MICROFINANCE INSTITUTIONS MINORITY INVESTORS MONETARY FUND NATIONAL BANK PAYMENT SYSTEMS PENALTIES PENSION PRIVATE INVESTMENT PRIVATIZATION PRUDENTIAL REGULATIONS PUBLIC ACCOUNTANTS PUBLIC ENTERPRISES PUBLIC FINANCE QUALITY ASSURANCE QUALITY CONTROL QUALITY OF WORK RETIREMENT SECURITIES SHAREHOLDERS STOCK EXCHANGE TECHNICAL ASSISTANCE TERRORISM TRANSPARENCY TURNOVER URBAN DEVELOPMENT VALUATION VALUATIONS
Online Access:	http://documents.worldbank.org/curated/en/2007/11/16411844/ethiopia-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/12244

Description
Summary:	This Report on Observance of Standards and Codes (ROSC) provides a review of the accounting and auditing practices and the institutions underpinning the accounting and auditing environment in the corporate sector in Ethiopia. The review drew on best international practices and makes policy recommendations aimed at improving the quality of financial reporting in the country. There are some notable efforts in Ethiopia aimed at improving the quality of financial information. One is aimed at establishing accounting and auditing standards for the private sector under the auspices of the Office of the Federal Auditor General (OFAG). Another is aimed at improving the capacity for public finance management under the auspices of the Ethiopian Civil Service College (ECSC). Work is also ongoing on revision of the Ethiopian Commercial Code under the auspices of the Ministry of Justice. The aim of this ROSC has been to complement the existing efforts by producing a holistic evaluation of all necessary pillars for a strong financial reporting infrastructure. While this report focuses mainly on corporate sector accounting and auditing, it also recognizes the need to ensure a well coordinated Commercial Code under the auspices of the Ministry of Justice. The aim of this ROSC has been to complement the existing efforts by producing a holistic evaluation of all necessary pillars for a strong financial reporting infrastructure. While this report focuses mainly on corporate sector accounting and auditing, it also recognizes the need to ensure a well coordinated approach to develop (i) accounting and auditing standards; and (ii) education and training systems in accounting and auditing, in the public and private sectors.

Ethiopia : Accounting and Auditing

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