Republic of Rwanda : Accounting and Auditing
This report is an assessment of the corporate sector accounting, financial reporting, and auditing practices within Rwanda. This Report on the Observance of Standards and Codes (ROSC) is benchmarked to International Financial Reporting Standards (I...
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| Format: | Accounting and Auditing Assessment (ROSC) |
| Language: | English en_US |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2008/06/10038406/republic-rwanda-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7975 |
| id |
okr-10986-7975 |
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| 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 en_US |
| topic |
ACCESS TO CREDIT ACCOUNT ACCOUNTANCY ACCOUNTANCY FIRMS ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING FIRMS ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING REFORM ACCOUNTING STANDARDS ACCOUNTING TREATMENT ADEQUATE DISCLOSURE ADMINISTRATIVE SUPPORT AFFILIATES AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDIT RISK AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BANK LOAN BANKING LAWS BANKING SECTOR BANKING SUPERVISION BANKS BEST PRACTICE BILLS BONDS BORROWER BORROWING BUSINESS CLIMATE BUSINESS OPPORTUNITIES CALCULATION CAPITAL BASE CAPITAL MARKET CERTIFIED PUBLIC ACCOUNTANTS COLLATERAL COMMERCIAL BANKS CONFLICT OF INTEREST CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENCIES CONTRIBUTION CREDITOR CREDITORS DEPOSITS DEVELOPMENT BANK DIRECT INVESTMENT ECONOMIC DEVELOPMENT ECONOMIC STABILITY EMPLOYEE BENEFITS EQUITIES EXTERNAL AUDITORS FINANCES FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL POLICY FINANCIAL POSITION FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN INVESTMENTS GOOD PRACTICE GOOD PRACTICES HOUSING INADEQUATE DISCLOSURE INCOME INFLATION INFORMATION TECHNOLOGY INSURANCE INSURANCE COMPANIES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE KNOWLEDGE GAP LACK OF KNOWLEDGE LARGE FIRMS LEGAL ADVICE LEGAL FRAMEWORK LEGAL PROVISION LEGAL PROVISIONS LEGISLATION LIABILITY MANDATES MEDIUM ENTERPRISE MEDIUM ENTERPRISES MICROFINANCE NATIONAL BANK NATIONAL INSURANCE NONPERFORMING LOANS OFF BALANCE SHEET OFF BALANCE SHEET ITEMS OFFSITE SUPERVISION PAYMENT SYSTEMS PENALTIES POVERTY ALLEVIATION PRUDENTIAL REGULATIONS QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REGULATORY FRAMEWORK REORGANIZATION RESPONSIBILITIES SECURITIES SENIOR STAKEHOLDER STAKEHOLDERS STATUTORY AUDITORS STOCK EXCHANGE STOCKS SUBSIDIARIES TAXATION TRAINING PROGRAMS TREASURY BILLS VALUATION |
| spellingShingle |
ACCESS TO CREDIT ACCOUNT ACCOUNTANCY ACCOUNTANCY FIRMS ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING FIRMS ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING REFORM ACCOUNTING STANDARDS ACCOUNTING TREATMENT ADEQUATE DISCLOSURE ADMINISTRATIVE SUPPORT AFFILIATES AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDIT RISK AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BANK LOAN BANKING LAWS BANKING SECTOR BANKING SUPERVISION BANKS BEST PRACTICE BILLS BONDS BORROWER BORROWING BUSINESS CLIMATE BUSINESS OPPORTUNITIES CALCULATION CAPITAL BASE CAPITAL MARKET CERTIFIED PUBLIC ACCOUNTANTS COLLATERAL COMMERCIAL BANKS CONFLICT OF INTEREST CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENCIES CONTRIBUTION CREDITOR CREDITORS DEPOSITS DEVELOPMENT BANK DIRECT INVESTMENT ECONOMIC DEVELOPMENT ECONOMIC STABILITY EMPLOYEE BENEFITS EQUITIES EXTERNAL AUDITORS FINANCES FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL POLICY FINANCIAL POSITION FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN INVESTMENTS GOOD PRACTICE GOOD PRACTICES HOUSING INADEQUATE DISCLOSURE INCOME INFLATION INFORMATION TECHNOLOGY INSURANCE INSURANCE COMPANIES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE KNOWLEDGE GAP LACK OF KNOWLEDGE LARGE FIRMS LEGAL ADVICE LEGAL FRAMEWORK LEGAL PROVISION LEGAL PROVISIONS LEGISLATION LIABILITY MANDATES MEDIUM ENTERPRISE MEDIUM ENTERPRISES MICROFINANCE NATIONAL BANK NATIONAL INSURANCE NONPERFORMING LOANS OFF BALANCE SHEET OFF BALANCE SHEET ITEMS OFFSITE SUPERVISION PAYMENT SYSTEMS PENALTIES POVERTY ALLEVIATION PRUDENTIAL REGULATIONS QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REGULATORY FRAMEWORK REORGANIZATION RESPONSIBILITIES SECURITIES SENIOR STAKEHOLDER STAKEHOLDERS STATUTORY AUDITORS STOCK EXCHANGE STOCKS SUBSIDIARIES TAXATION TRAINING PROGRAMS TREASURY BILLS VALUATION World Bank Republic of Rwanda : Accounting and Auditing |
| geographic_facet |
Africa Rwanda |
| description |
This report is an assessment of the
corporate sector accounting, financial reporting, and
auditing practices within Rwanda. This Report on the
Observance of Standards and Codes (ROSC) is benchmarked to
International Financial Reporting Standards (IFRS) and
International Standards on Auditing (ISA) and draws on
international experience and good practices to assess the
strengths and weaknesses of the institutional underpinnings
of corporate financial reporting and make policy
recommendations. This assessment is mainly aimed at
preparing a road map for institutional capacity building
including development of the accountancy profession for
bolstering the corporate sector accounting, financial
reporting, and auditing in Rwanda. Rwanda is making
considerable effort to align its accounting and auditing
practices with internationally accepted standards and codes.
Along with its growing economy, Rwanda must take effective
steps for strengthening all the pillars of the
infrastructure of accounting and auditing in line with the
international good practices. The ROSC review findings
reveal that there are varying compliance gaps in both
accounting and auditing practices in Rwanda. These gaps stem
from lack of clearer understanding among practicing
accountants and auditors about the requirements of
internationally accepted standards, inadequate technical
capacities of the regulators, absence of implementation
guidance, lack of independent oversight of the auditing
profession, and shortcomings in professional education and
training. The Institute of Certified Public Accountants of
Rwanda (ICPAR) will assume the role of the self-regulatory
professional accountancy body in the country. |
| format |
Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Republic of Rwanda : Accounting and Auditing |
| title_short |
Republic of Rwanda : Accounting and Auditing |
| title_full |
Republic of Rwanda : Accounting and Auditing |
| title_fullStr |
Republic of Rwanda : Accounting and Auditing |
| title_full_unstemmed |
Republic of Rwanda : Accounting and Auditing |
| title_sort |
republic of rwanda : accounting and auditing |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2008/06/10038406/republic-rwanda-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7975 |
| _version_ |
1764402873333972992 |
| spelling |
okr-10986-79752021-04-23T14:02:35Z Republic of Rwanda : Accounting and Auditing World Bank ACCESS TO CREDIT ACCOUNT ACCOUNTANCY ACCOUNTANCY FIRMS ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING FIRMS ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING REFORM ACCOUNTING STANDARDS ACCOUNTING TREATMENT ADEQUATE DISCLOSURE ADMINISTRATIVE SUPPORT AFFILIATES AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDIT RISK AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BANK LOAN BANKING LAWS BANKING SECTOR BANKING SUPERVISION BANKS BEST PRACTICE BILLS BONDS BORROWER BORROWING BUSINESS CLIMATE BUSINESS OPPORTUNITIES CALCULATION CAPITAL BASE CAPITAL MARKET CERTIFIED PUBLIC ACCOUNTANTS COLLATERAL COMMERCIAL BANKS CONFLICT OF INTEREST CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENCIES CONTRIBUTION CREDITOR CREDITORS DEPOSITS DEVELOPMENT BANK DIRECT INVESTMENT ECONOMIC DEVELOPMENT ECONOMIC STABILITY EMPLOYEE BENEFITS EQUITIES EXTERNAL AUDITORS FINANCES FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL POLICY FINANCIAL POSITION FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTORS FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN INVESTMENTS GOOD PRACTICE GOOD PRACTICES HOUSING INADEQUATE DISCLOSURE INCOME INFLATION INFORMATION TECHNOLOGY INSURANCE INSURANCE COMPANIES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE KNOWLEDGE GAP LACK OF KNOWLEDGE LARGE FIRMS LEGAL ADVICE LEGAL FRAMEWORK LEGAL PROVISION LEGAL PROVISIONS LEGISLATION LIABILITY MANDATES MEDIUM ENTERPRISE MEDIUM ENTERPRISES MICROFINANCE NATIONAL BANK NATIONAL INSURANCE NONPERFORMING LOANS OFF BALANCE SHEET OFF BALANCE SHEET ITEMS OFFSITE SUPERVISION PAYMENT SYSTEMS PENALTIES POVERTY ALLEVIATION PRUDENTIAL REGULATIONS QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REGULATORY FRAMEWORK REORGANIZATION RESPONSIBILITIES SECURITIES SENIOR STAKEHOLDER STAKEHOLDERS STATUTORY AUDITORS STOCK EXCHANGE STOCKS SUBSIDIARIES TAXATION TRAINING PROGRAMS TREASURY BILLS VALUATION This report is an assessment of the corporate sector accounting, financial reporting, and auditing practices within Rwanda. This Report on the Observance of Standards and Codes (ROSC) is benchmarked to International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) and draws on international experience and good practices to assess the strengths and weaknesses of the institutional underpinnings of corporate financial reporting and make policy recommendations. This assessment is mainly aimed at preparing a road map for institutional capacity building including development of the accountancy profession for bolstering the corporate sector accounting, financial reporting, and auditing in Rwanda. Rwanda is making considerable effort to align its accounting and auditing practices with internationally accepted standards and codes. Along with its growing economy, Rwanda must take effective steps for strengthening all the pillars of the infrastructure of accounting and auditing in line with the international good practices. The ROSC review findings reveal that there are varying compliance gaps in both accounting and auditing practices in Rwanda. These gaps stem from lack of clearer understanding among practicing accountants and auditors about the requirements of internationally accepted standards, inadequate technical capacities of the regulators, absence of implementation guidance, lack of independent oversight of the auditing profession, and shortcomings in professional education and training. The Institute of Certified Public Accountants of Rwanda (ICPAR) will assume the role of the self-regulatory professional accountancy body in the country. 2012-06-14T13:48:52Z 2012-06-14T13:48:52Z 2008-06-19 http://documents.worldbank.org/curated/en/2008/06/10038406/republic-rwanda-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7975 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) Economic & Sector Work Africa Rwanda |