Mauritius - Report on the Observance of Standards and Codes (ROSC): Accounting and Auditing

Mauritius - Report on the Observance of Standards and Codes (ROSC): Accounting and Auditing

The second Report on the observance of standards and codes (ROSC) Accounting and Auditing (A&A) review in Mauritius aims to determine what reforms should be undertaken to further strengthen the accountancy institutional framework that is critic...

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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 ACCOUNTABILITY ACCOUNTANCY ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTS ASSET MANAGEMENT AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BANK DEPOSIT BANK OF MAURITIUS BANKING ASSETS BANKING INSTITUTIONS BANKING SUPERVISION BANKS BUSINESS LICENSES BUSINESS STATISTICS CHECKS COLLECTIVE INVESTMENT COLLECTIVE INVESTMENTS COMMERCIAL BANK COMMERCIAL BANKS COMPANY LAW COMPANY LAWS COMPLIANCE GAPS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CORPORATE GOVERNANCE CREDITOR CREDITOR RIGHTS CURRENCY DEBTS DERIVATIVES DEVELOPING COUNTRY DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DUE DILIGENCE EMPLOYMENT ENFORCEMENT MECHANISM ENTRY REQUIREMENTS EQUIPMENT EXCHANGE COMMISSION FACTORING FAIR VALUE FAIR VALUES FINANCIAL CRISIS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL SERVICES FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SUSTAINABILITY FISCAL DEFICIT GLOBAL BUSINESS GLOBAL BUSINESSES GOOD PRACTICE GOVERNANCE ISSUES GOVERNMENT POLICY HUMAN RESOURCES INADEQUATE DISCLOSURE INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTANGIBLE INTANGIBLE ASSETS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTOR CONFIDENCE ISSUANCE LAWS LEASE PAYMENTS LEGISLATION LENDING DECISIONS LENDING INSTITUTIONS MONETARY FUND OIL PRICES PUBLIC ACCOUNTANTS PUBLIC DISCLOSURE QUALITY ASSURANCE QUALITY CONTROL REGISTRATION FEES RESERVES RETURNS REVENUE SOURCES RISK MANAGEMENT SECURITIES SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATIONS STATE BANK STATUTORY AUDITORS STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET SUBSIDIARIES TAX TECHNICAL ASSISTANCE TRADING TRANSFER AGENTS TRANSPARENCY TREASURY TURNOVER UNAUDITED FINANCIAL STATEMENTS VALUATION WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2011/06/16411904/mauritius-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/12245

Description
Summary:	The second Report on the observance of standards and codes (ROSC) Accounting and Auditing (A&A) review in Mauritius aims to determine what reforms should be undertaken to further strengthen the accountancy institutional framework that is critical in contributing to the country's economic growth. In 2010, the Government of Mauritius invited the World Bank to conduct this follow-up review. The first ROSC A&A was carried out in 2003. The new review establishes the extent of implementation of the 2003 policy recommendations and also identifies emerging strengths and weaknesses in institutional framework that underpin accounting and auditing practices that influence the quality of financial reporting. Further policy recommendations in this ROSC address the identified systematic weaknesses. Ultimately, if implemented, the recommendations would improve corporate financial reporting that will enhance Mauritius' business environment and advance its governance and financial accountability both key contributors to improving investor confidence and attracting investments. The ROSC A&A review team used a diagnostic template developed by the World Bank to facilitate collection of data. The data was complemented by the findings of a due diligence exercise obtained by the team during a series of meetings held with key stakeholders. During the meetings, the team also obtained information on the status of implementation of 2003 recommendations. A National steering committee comprising representatives of stakeholders in the accounting and auditing community in Mauritius supported the ROSC team.

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