Report on the Observance of Standards and Codes on Accounting and Auditing Update : Georgia
Reports on the Observance of Standards and Codes (ROSC) Accounting and Auditing (AA) assess accounting and auditing practices in participating countries. They form part of a World Bank and International Monetary Fund joint initiative to review the...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Vienna
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/05/24447080/georgia-report-observance-standards-codes-accounting-auditing-aa-rosc http://hdl.handle.net/10986/22971 |
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okr-10986-22971 |
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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 |
INTERNATIONAL ACCOUNTING STANDARDS GOOD PRACTICE ACCOUNTING PRINCIPLES EXTERNAL AUDITORS EMPLOYMENT CAPITAL MARKETS REGULATORY FRAMEWORK INTANGIBLE ASSETS ACCOUNTING DEPOSITS ACCOUNTING PRACTICES SMALL BANKS BUSINESS COMMUNITY FINANCIAL MANAGEMENT RETURN ON EQUITY PRINCIPAL GOOD PRACTICES PUBLIC DISCLOSURE SALES INTEREST DEPRECIATION LAWS PRIVATIZATION INDUSTRY BUSINESS ADMINISTRATION STATE PROPERTY BANKING SYSTEM BUSINESS SCHOOLS CAPITAL BASE RESOURCE ALLOCATION SERVICES REVALUATION SURPLUS FINANCIAL STATEMENTS INCOME STATEMENTS IMPACTS ACCOUNTING CURRICULUM REORGANIZATION PROJECTS OWNERSHIP PLANNING QUALITY ECONOMIC STABILITY CENTRAL BANKS REPORTING CASH FLOWS AUDITS ACCOUNTING SERVICES PRESENT VALUE SAVINGS PENALTIES CREDIT UNIONS ACQUISITION OPERATING INCOME TRANSPORT FINANCIAL DATA ACCOUNTING POLICIES PRODUCTIVITY BAD DEBT PROVISIONS CRITERIA FINANCIAL INSTITUTIONS MARKETS MARKETING DEBT FINANCIAL REPORTING LEGISLATION CAPITAL REQUIREMENTS STATUTORY AUDITORS BUSINESS COMBINATIONS AUDITING FUNCTION ACCOUNTS RECEIVABLE FIXED ASSET LOANS LABOR ENTERPRISES BAD DEBT INVENTORY FINANCIAL SYSTEM LEGAL FRAMEWORK ACCOUNT RETURN ON ASSETS FINANCE FUTURE CASH FLOWS GRANTS ASSET CLASSIFICATION INFRASTRUCTURE TAXES BANKING SECTOR BANKS RESOURCES EQUITY GAAP AUDITED FINANCIAL STATEMENTS ACCOUNTABILITY ACCOUNTANTS BUSINESS FORECASTS CAPITAL ACQUISITION COST AUDITORS EXPENSES SUBSIDIARIES VALUE BANK QUALITY AUDITS CREDIT COLLATERALIZATION PRUDENTIAL REGULATIONS ACCOUNTANCY COST OF SALES PEER REVIEW CAPITALIZATION MAINTENANCE REPORTING SYSTEMS FINANCIAL PERFORMANCE EXPENDITURES PROPERTY MANDATES MARKET DISCIPLINE FOREIGN BANKS COST BUSINESS INDICATORS ACCRUAL ACCOUNTING BALANCE SHEET AUDIT ENGAGEMENTS SUPERVISORY AGENCIES ACTUARIES TRANSACTION COSTS AUDIT REPORTS FINANCIAL REPORTING STANDARDS QUALITY CONTROL CONSOLIDATED FINANCIAL STATEMENTS SUBSIDIARY ADMINISTRATION PROFITABILITY GOVERNANCE CREDIT RISK INSURANCE BOOKKEEPING MICROFINANCE PARENT COMPANIES IMPACT ANALYSIS PRUDENTIAL REQUIREMENTS ACCOUNTING STANDARDS AUDIT COMMITTEES BUSINESS RISK MANAGEMENT ACCOUNTING COMMERCIAL BANKS INTERNAL AUDIT FINANCIAL MARKETS BANKING AUDITORS’ OPINIONS AUDIT OF ACCOUNTS COOPERATIVES REVENUE RISK MANAGEMENT LENDING ACCOUNTS QUALITY ASSURANCE FINANCIAL RISK BANKING SUPERVISION AUDITING STANDARDS AUDIT BANKING LAW AUDITING PROFESSION GOVERNMENTS LIQUID ASSETS ACCOUNTING RECORDS IMPLEMENTATION COST OF CAPITAL NONPERFORMING LOANS AUDITING FINANCIAL REPORTS CONSOLIDATION |
| spellingShingle |
INTERNATIONAL ACCOUNTING STANDARDS GOOD PRACTICE ACCOUNTING PRINCIPLES EXTERNAL AUDITORS EMPLOYMENT CAPITAL MARKETS REGULATORY FRAMEWORK INTANGIBLE ASSETS ACCOUNTING DEPOSITS ACCOUNTING PRACTICES SMALL BANKS BUSINESS COMMUNITY FINANCIAL MANAGEMENT RETURN ON EQUITY PRINCIPAL GOOD PRACTICES PUBLIC DISCLOSURE SALES INTEREST DEPRECIATION LAWS PRIVATIZATION INDUSTRY BUSINESS ADMINISTRATION STATE PROPERTY BANKING SYSTEM BUSINESS SCHOOLS CAPITAL BASE RESOURCE ALLOCATION SERVICES REVALUATION SURPLUS FINANCIAL STATEMENTS INCOME STATEMENTS IMPACTS ACCOUNTING CURRICULUM REORGANIZATION PROJECTS OWNERSHIP PLANNING QUALITY ECONOMIC STABILITY CENTRAL BANKS REPORTING CASH FLOWS AUDITS ACCOUNTING SERVICES PRESENT VALUE SAVINGS PENALTIES CREDIT UNIONS ACQUISITION OPERATING INCOME TRANSPORT FINANCIAL DATA ACCOUNTING POLICIES PRODUCTIVITY BAD DEBT PROVISIONS CRITERIA FINANCIAL INSTITUTIONS MARKETS MARKETING DEBT FINANCIAL REPORTING LEGISLATION CAPITAL REQUIREMENTS STATUTORY AUDITORS BUSINESS COMBINATIONS AUDITING FUNCTION ACCOUNTS RECEIVABLE FIXED ASSET LOANS LABOR ENTERPRISES BAD DEBT INVENTORY FINANCIAL SYSTEM LEGAL FRAMEWORK ACCOUNT RETURN ON ASSETS FINANCE FUTURE CASH FLOWS GRANTS ASSET CLASSIFICATION INFRASTRUCTURE TAXES BANKING SECTOR BANKS RESOURCES EQUITY GAAP AUDITED FINANCIAL STATEMENTS ACCOUNTABILITY ACCOUNTANTS BUSINESS FORECASTS CAPITAL ACQUISITION COST AUDITORS EXPENSES SUBSIDIARIES VALUE BANK QUALITY AUDITS CREDIT COLLATERALIZATION PRUDENTIAL REGULATIONS ACCOUNTANCY COST OF SALES PEER REVIEW CAPITALIZATION MAINTENANCE REPORTING SYSTEMS FINANCIAL PERFORMANCE EXPENDITURES PROPERTY MANDATES MARKET DISCIPLINE FOREIGN BANKS COST BUSINESS INDICATORS ACCRUAL ACCOUNTING BALANCE SHEET AUDIT ENGAGEMENTS SUPERVISORY AGENCIES ACTUARIES TRANSACTION COSTS AUDIT REPORTS FINANCIAL REPORTING STANDARDS QUALITY CONTROL CONSOLIDATED FINANCIAL STATEMENTS SUBSIDIARY ADMINISTRATION PROFITABILITY GOVERNANCE CREDIT RISK INSURANCE BOOKKEEPING MICROFINANCE PARENT COMPANIES IMPACT ANALYSIS PRUDENTIAL REQUIREMENTS ACCOUNTING STANDARDS AUDIT COMMITTEES BUSINESS RISK MANAGEMENT ACCOUNTING COMMERCIAL BANKS INTERNAL AUDIT FINANCIAL MARKETS BANKING AUDITORS’ OPINIONS AUDIT OF ACCOUNTS COOPERATIVES REVENUE RISK MANAGEMENT LENDING ACCOUNTS QUALITY ASSURANCE FINANCIAL RISK BANKING SUPERVISION AUDITING STANDARDS AUDIT BANKING LAW AUDITING PROFESSION GOVERNMENTS LIQUID ASSETS ACCOUNTING RECORDS IMPLEMENTATION COST OF CAPITAL NONPERFORMING LOANS AUDITING FINANCIAL REPORTS CONSOLIDATION World Bank Group Report on the Observance of Standards and Codes on Accounting and Auditing Update : Georgia |
| geographic_facet |
Europe and Central Asia Georgia |
| description |
Reports on the Observance of Standards
and Codes (ROSC) Accounting and Auditing (AA) assess
accounting and auditing practices in participating
countries. They form part of a World Bank and International
Monetary Fund joint initiative to review the quality of
implementation of twelve internationally recognized core
standards relevant to economic stability and private and
financial sector development (the ROSC Program). Since its
inception in 2000, the ROSC AA program has concluded
evaluations of the AA environment in more than one hundred
countries around the world. ROSC AA reports have been
produced for all countries of the Europe and Central Asia
Region, except Russia. This report covers the accounting,
audit, and financial reporting frameworks as a whole, paying
particular attention to the financial sector, state owned
enterprises, SMEs and audit regulation - key areas that are
important in the current economic context of Georgia. With
respect to SOEs, the report focuses on the existing
requirements, standards enforcement, and use of financial
reports and statutory audit findings by the Government in
its decision making and monitoring of SOEs. This report also
discusses SMEs existing financial reporting requirements,
and the need to simplify the requirements for the small and
micro businesses. Finally, the report reviews the audit
oversight function and a quality assurance system soon to be
employed by Georgia, and provides recommendations to raise
the quality of audit services through the strengthening of
audit oversight. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Report on the Observance of Standards and Codes on Accounting and Auditing Update : Georgia |
| title_short |
Report on the Observance of Standards and Codes on Accounting and Auditing Update : Georgia |
| title_full |
Report on the Observance of Standards and Codes on Accounting and Auditing Update : Georgia |
| title_fullStr |
Report on the Observance of Standards and Codes on Accounting and Auditing Update : Georgia |
| title_full_unstemmed |
Report on the Observance of Standards and Codes on Accounting and Auditing Update : Georgia |
| title_sort |
report on the observance of standards and codes on accounting and auditing update : georgia |
| publisher |
World Bank, Vienna |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/05/24447080/georgia-report-observance-standards-codes-accounting-auditing-aa-rosc http://hdl.handle.net/10986/22971 |
| _version_ |
1764452415356010496 |
| spelling |
okr-10986-229712021-04-23T14:04:11Z Report on the Observance of Standards and Codes on Accounting and Auditing Update : Georgia World Bank Group INTERNATIONAL ACCOUNTING STANDARDS GOOD PRACTICE ACCOUNTING PRINCIPLES EXTERNAL AUDITORS EMPLOYMENT CAPITAL MARKETS REGULATORY FRAMEWORK INTANGIBLE ASSETS ACCOUNTING DEPOSITS ACCOUNTING PRACTICES SMALL BANKS BUSINESS COMMUNITY FINANCIAL MANAGEMENT RETURN ON EQUITY PRINCIPAL GOOD PRACTICES PUBLIC DISCLOSURE SALES INTEREST DEPRECIATION LAWS PRIVATIZATION INDUSTRY BUSINESS ADMINISTRATION STATE PROPERTY BANKING SYSTEM BUSINESS SCHOOLS CAPITAL BASE RESOURCE ALLOCATION SERVICES REVALUATION SURPLUS FINANCIAL STATEMENTS INCOME STATEMENTS IMPACTS ACCOUNTING CURRICULUM REORGANIZATION PROJECTS OWNERSHIP PLANNING QUALITY ECONOMIC STABILITY CENTRAL BANKS REPORTING CASH FLOWS AUDITS ACCOUNTING SERVICES PRESENT VALUE SAVINGS PENALTIES CREDIT UNIONS ACQUISITION OPERATING INCOME TRANSPORT FINANCIAL DATA ACCOUNTING POLICIES PRODUCTIVITY BAD DEBT PROVISIONS CRITERIA FINANCIAL INSTITUTIONS MARKETS MARKETING DEBT FINANCIAL REPORTING LEGISLATION CAPITAL REQUIREMENTS STATUTORY AUDITORS BUSINESS COMBINATIONS AUDITING FUNCTION ACCOUNTS RECEIVABLE FIXED ASSET LOANS LABOR ENTERPRISES BAD DEBT INVENTORY FINANCIAL SYSTEM LEGAL FRAMEWORK ACCOUNT RETURN ON ASSETS FINANCE FUTURE CASH FLOWS GRANTS ASSET CLASSIFICATION INFRASTRUCTURE TAXES BANKING SECTOR BANKS RESOURCES EQUITY GAAP AUDITED FINANCIAL STATEMENTS ACCOUNTABILITY ACCOUNTANTS BUSINESS FORECASTS CAPITAL ACQUISITION COST AUDITORS EXPENSES SUBSIDIARIES VALUE BANK QUALITY AUDITS CREDIT COLLATERALIZATION PRUDENTIAL REGULATIONS ACCOUNTANCY COST OF SALES PEER REVIEW CAPITALIZATION MAINTENANCE REPORTING SYSTEMS FINANCIAL PERFORMANCE EXPENDITURES PROPERTY MANDATES MARKET DISCIPLINE FOREIGN BANKS COST BUSINESS INDICATORS ACCRUAL ACCOUNTING BALANCE SHEET AUDIT ENGAGEMENTS SUPERVISORY AGENCIES ACTUARIES TRANSACTION COSTS AUDIT REPORTS FINANCIAL REPORTING STANDARDS QUALITY CONTROL CONSOLIDATED FINANCIAL STATEMENTS SUBSIDIARY ADMINISTRATION PROFITABILITY GOVERNANCE CREDIT RISK INSURANCE BOOKKEEPING MICROFINANCE PARENT COMPANIES IMPACT ANALYSIS PRUDENTIAL REQUIREMENTS ACCOUNTING STANDARDS AUDIT COMMITTEES BUSINESS RISK MANAGEMENT ACCOUNTING COMMERCIAL BANKS INTERNAL AUDIT FINANCIAL MARKETS BANKING AUDITORS’ OPINIONS AUDIT OF ACCOUNTS COOPERATIVES REVENUE RISK MANAGEMENT LENDING ACCOUNTS QUALITY ASSURANCE FINANCIAL RISK BANKING SUPERVISION AUDITING STANDARDS AUDIT BANKING LAW AUDITING PROFESSION GOVERNMENTS LIQUID ASSETS ACCOUNTING RECORDS IMPLEMENTATION COST OF CAPITAL NONPERFORMING LOANS AUDITING FINANCIAL REPORTS CONSOLIDATION Reports on the Observance of Standards and Codes (ROSC) Accounting and Auditing (AA) assess accounting and auditing practices in participating countries. They form part of a World Bank and International Monetary Fund joint initiative to review the quality of implementation of twelve internationally recognized core standards relevant to economic stability and private and financial sector development (the ROSC Program). Since its inception in 2000, the ROSC AA program has concluded evaluations of the AA environment in more than one hundred countries around the world. ROSC AA reports have been produced for all countries of the Europe and Central Asia Region, except Russia. This report covers the accounting, audit, and financial reporting frameworks as a whole, paying particular attention to the financial sector, state owned enterprises, SMEs and audit regulation - key areas that are important in the current economic context of Georgia. With respect to SOEs, the report focuses on the existing requirements, standards enforcement, and use of financial reports and statutory audit findings by the Government in its decision making and monitoring of SOEs. This report also discusses SMEs existing financial reporting requirements, and the need to simplify the requirements for the small and micro businesses. Finally, the report reviews the audit oversight function and a quality assurance system soon to be employed by Georgia, and provides recommendations to raise the quality of audit services through the strengthening of audit oversight. 2015-11-16T23:26:37Z 2015-11-16T23:26:37Z 2015-03 Report http://documents.worldbank.org/curated/en/2015/05/24447080/georgia-report-observance-standards-codes-accounting-auditing-aa-rosc http://hdl.handle.net/10986/22971 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Vienna Economic & Sector Work Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) Europe and Central Asia Georgia |