Financial Sector Assessment Program - Albania : Corporate Sector Financial Reporting
This note is prepared as part of the financial sector assessment program (FSAP). Its main objective is to describe the status and recent developments in corporate financial reporting framework in Albania and highlight key issues relevant to financi...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/02/19768300/albania-financial-sector-assessment-program http://hdl.handle.net/10986/19294 |
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okr-10986-192942021-04-23T14:03:51Z Financial Sector Assessment Program - Albania : Corporate Sector Financial Reporting World Bank International Monetary Fund ACCOUNT ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULUM ACCOUNTING REFORM ACCOUNTING SERVICES ACCOUNTING STANDARD ACCOUNTS AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT REPORTS AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BALANCE SHEET BANKING LEGISLATION BANKING SECTOR BANKS BROKERAGE BUSINESS ENVIRONMENT BUSINESS ETHICS CAPITAL ADEQUACY CAPITAL MARKETS CAPITAL REQUIREMENTS CIVIL SERVICE CORPORATE GOVERNANCE CREDIT INSTITUTIONS DEPOSITS DISCLOSURE REQUIREMENTS EXPOSURE EXTERNAL AUDITORS FACTORING FINANCIAL COMPANIES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENTS FINANCIAL SERVICES FINANCIAL STATEMENTS GOOD PRACTICE HARMONIZATION INCOME INSTITUTIONAL CAPACITY INSURANCE INSURERS INTERNAL CONTROL INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL AUDITING STANDARDS INVENTORY INVESTMENT CLIMATE LAWS LEGAL PROVISIONS LEGISLATION LIMITED LIABILITY COMPANIES PEER REVIEW PENALTIES PORTFOLIO PORTFOLIO INVESTMENT PRIVATE SECTOR DEVELOPMENT QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REGULATOR REGULATORS REGULATORY BODIES REPUTATION SECURITIES SECURITIES REGULATORS SHAREHOLDERS SINGLE MARKET STATUTORY AUDITORS STOCK EXCHANGE SUPERVISORY AUTHORITIES TAX TECHNICAL ASSISTANCE TRANSPARENCY TURNOVER VOLATILITY This note is prepared as part of the financial sector assessment program (FSAP). Its main objective is to describe the status and recent developments in corporate financial reporting framework in Albania and highlight key issues relevant to financial sector. The note represents a technical annex to the main FSAP aide-memoire and seeks to provide a high level overview of developments since the 2006 accounting and auditing report on the observance of standards and codes (A and A ROSC), and highlight the areas that are most relevant to the financial sector. Notable progress has been made in developing modern corporate financial reporting framework in Albania since 2006, especially in improving the statutory framework and efforts to align it with the European Union (EU) acquis communautaire. The major consequences are that there is limited financial information on corporate entities available on the market that is reliable for economic decision making or supervision of financial sector entities. The capacity and skills of institutions responsible for accounting and auditing regulation, as well as accounting and auditing profession in Albania need further development. The annex one to this note offers details on status of implementation of 2006 A and A ROSC policy recommendations. 2014-08-14T15:11:17Z 2014-08-14T15:11:17Z 2014-02 http://documents.worldbank.org/curated/en/2014/02/19768300/albania-financial-sector-assessment-program http://hdl.handle.net/10986/19294 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Europe and Central Asia ALBANIA |
| 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 |
ACCOUNT ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULUM ACCOUNTING REFORM ACCOUNTING SERVICES ACCOUNTING STANDARD ACCOUNTS AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT REPORTS AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BALANCE SHEET BANKING LEGISLATION BANKING SECTOR BANKS BROKERAGE BUSINESS ENVIRONMENT BUSINESS ETHICS CAPITAL ADEQUACY CAPITAL MARKETS CAPITAL REQUIREMENTS CIVIL SERVICE CORPORATE GOVERNANCE CREDIT INSTITUTIONS DEPOSITS DISCLOSURE REQUIREMENTS EXPOSURE EXTERNAL AUDITORS FACTORING FINANCIAL COMPANIES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENTS FINANCIAL SERVICES FINANCIAL STATEMENTS GOOD PRACTICE HARMONIZATION INCOME INSTITUTIONAL CAPACITY INSURANCE INSURERS INTERNAL CONTROL INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL AUDITING STANDARDS INVENTORY INVESTMENT CLIMATE LAWS LEGAL PROVISIONS LEGISLATION LIMITED LIABILITY COMPANIES PEER REVIEW PENALTIES PORTFOLIO PORTFOLIO INVESTMENT PRIVATE SECTOR DEVELOPMENT QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REGULATOR REGULATORS REGULATORY BODIES REPUTATION SECURITIES SECURITIES REGULATORS SHAREHOLDERS SINGLE MARKET STATUTORY AUDITORS STOCK EXCHANGE SUPERVISORY AUTHORITIES TAX TECHNICAL ASSISTANCE TRANSPARENCY TURNOVER VOLATILITY |
| spellingShingle |
ACCOUNT ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULUM ACCOUNTING REFORM ACCOUNTING SERVICES ACCOUNTING STANDARD ACCOUNTS AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT REPORTS AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BALANCE SHEET BANKING LEGISLATION BANKING SECTOR BANKS BROKERAGE BUSINESS ENVIRONMENT BUSINESS ETHICS CAPITAL ADEQUACY CAPITAL MARKETS CAPITAL REQUIREMENTS CIVIL SERVICE CORPORATE GOVERNANCE CREDIT INSTITUTIONS DEPOSITS DISCLOSURE REQUIREMENTS EXPOSURE EXTERNAL AUDITORS FACTORING FINANCIAL COMPANIES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENTS FINANCIAL SERVICES FINANCIAL STATEMENTS GOOD PRACTICE HARMONIZATION INCOME INSTITUTIONAL CAPACITY INSURANCE INSURERS INTERNAL CONTROL INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL AUDITING STANDARDS INVENTORY INVESTMENT CLIMATE LAWS LEGAL PROVISIONS LEGISLATION LIMITED LIABILITY COMPANIES PEER REVIEW PENALTIES PORTFOLIO PORTFOLIO INVESTMENT PRIVATE SECTOR DEVELOPMENT QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REGULATOR REGULATORS REGULATORY BODIES REPUTATION SECURITIES SECURITIES REGULATORS SHAREHOLDERS SINGLE MARKET STATUTORY AUDITORS STOCK EXCHANGE SUPERVISORY AUTHORITIES TAX TECHNICAL ASSISTANCE TRANSPARENCY TURNOVER VOLATILITY World Bank International Monetary Fund Financial Sector Assessment Program - Albania : Corporate Sector Financial Reporting |
| geographic_facet |
Europe and Central Asia ALBANIA |
| description |
This note is prepared as part of the
financial sector assessment program (FSAP). Its main
objective is to describe the status and recent developments
in corporate financial reporting framework in Albania and
highlight key issues relevant to financial sector. The note
represents a technical annex to the main FSAP aide-memoire
and seeks to provide a high level overview of developments
since the 2006 accounting and auditing report on the
observance of standards and codes (A and A ROSC), and
highlight the areas that are most relevant to the financial
sector. Notable progress has been made in developing modern
corporate financial reporting framework in Albania since
2006, especially in improving the statutory framework and
efforts to align it with the European Union (EU) acquis
communautaire. The major consequences are that there is
limited financial information on corporate entities
available on the market that is reliable for economic
decision making or supervision of financial sector entities.
The capacity and skills of institutions responsible for
accounting and auditing regulation, as well as accounting
and auditing profession in Albania need further development.
The annex one to this note offers details on status of
implementation of 2006 A and A ROSC policy recommendations. |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
World Bank International Monetary Fund |
| author_facet |
World Bank International Monetary Fund |
| author_sort |
World Bank |
| title |
Financial Sector Assessment Program - Albania : Corporate Sector Financial Reporting |
| title_short |
Financial Sector Assessment Program - Albania : Corporate Sector Financial Reporting |
| title_full |
Financial Sector Assessment Program - Albania : Corporate Sector Financial Reporting |
| title_fullStr |
Financial Sector Assessment Program - Albania : Corporate Sector Financial Reporting |
| title_full_unstemmed |
Financial Sector Assessment Program - Albania : Corporate Sector Financial Reporting |
| title_sort |
financial sector assessment program - albania : corporate sector financial reporting |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/02/19768300/albania-financial-sector-assessment-program http://hdl.handle.net/10986/19294 |
| _version_ |
1764443580234989568 |