Republic of Botswana : Accounting and Auditing

This accounting and auditing report, part of the Observance of Standards and Codes (ROSC) for the Republic of Botswana, provides an assessment of accounting and auditing practices within the corporate sector in Botswana with reference to the International Financial Reporting Standards issued by the...

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Main Author:	World Bank
Format:	Accounting and Auditing Assessment (ROSC)
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCESS TO CAPITAL ACCESS TO FINANCING ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANCY FIRMS ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULUM ACCOUNTING FIRM ACCOUNTING PERIOD ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING STANDARDS ACCOUNTS ADEQUATE DISCLOSURE ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ATTESTATION AUDIT COMMITTEE AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDIT RISK AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROCEDURES AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BANK LOAN BANK OF BOTSWANA BANKING INSTITUTIONS BANKING RISKS BANKING SECTOR BANKING SUPERVISION BANKS BOOKKEEPING CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITALIZATION CENTRAL BANK COLLECTIVE INVESTMENT COLLECTIVE INVESTMENTS COMMERCIAL BANKS COMPLIANCE GAPS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENT LIABILITIES CORPORATE GOVERNANCE CREDIBILITY CREDIT LOSSES CREDITOR CREDITOR RIGHTS CREDITORS DEBT DEVELOPMENT BANK DISCLOSURE REQUIREMENTS DUE DILIGENCE ECONOMIC DEVELOPMENT EMPLOYMENT ENABLING ENVIRONMENT ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS EQUIPMENT EQUITY INVESTMENT EXCHANGE COMMISSION EXCHANGE RATE EXPENDITURES EXTERNAL AUDITORS FAIR VALUES FIDUCIARY RESPONSIBILITY FINANCIAL ASSET FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SECTOR DEVELOPMENT FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL POLICY FIXED ASSETS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURE FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN INVESTMENTS FUTURE CASH FLOWS FUTURE CREDIT GLOBAL ECONOMY GOOD PRACTICE GROSS DOMESTIC PRODUCT IMAGE INADEQUATE DISCLOSURE INCOME INEQUALITIES INCOME TAX INFORMATION TECHNOLOGY INSTITUTIONAL CAPACITY INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL DEVELOPMENT INTERNATIONAL DEVELOPMENTS INTERNATIONAL MARKET INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVENTORY INVESTMENT CLIMATE INVESTMENT OPPORTUNITIES INVESTOR CONFIDENCE LEGAL PROVISIONS LEGAL SYSTEM LEGISLATION LEVEL OF DEBT LIABILITY LIQUIDITY LOAN MANDATES MARKET CAPITALIZATION MARKET EFFICIENCY MARKET PARTICIPANTS MARKET REGULATOR MINORITY INVESTORS MINORITY SHAREHOLDERS MONETARY FUND OFF BALANCE SHEET OFF BALANCE SHEET ITEMS OWNERSHIP INTERESTS PENALTIES PENSION PENSION FUNDS PORTFOLIO PRESENT VALUE PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PUBLIC ACCOUNTANTS PUBLIC ACCOUNTING QUALITY ASSURANCE QUALITY CONTROL RECURRENT EXPENDITURES REGULATORY FRAMEWORK RETURN RETURNS SAVINGS SAVINGS BANK SECURITIES SECURITIES MARKET SECURITIES REGULATION SHAREHOLDERS SOLVENCY STATUTORY AUDITORS STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK EXCHANGE LISTING STOCK MARKET STOCKS SUBSIDIARIES TAX ADMINISTRATION TAX LAWS TAXATION TERRORISM TRADING TRANSACTION TRANSPARENCY TURNOVER VALUATION
Online Access:	http://documents.worldbank.org/curated/en/2006/05/16275178/republic-botswana-report-observance-standards-codes-rosc http://hdl.handle.net/10986/8239

id	okr-10986-8239
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 CAPITAL ACCESS TO FINANCING ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANCY FIRMS ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULUM ACCOUNTING FIRM ACCOUNTING PERIOD ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING STANDARDS ACCOUNTS ADEQUATE DISCLOSURE ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ATTESTATION AUDIT COMMITTEE AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDIT RISK AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROCEDURES AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BANK LOAN BANK OF BOTSWANA BANKING INSTITUTIONS BANKING RISKS BANKING SECTOR BANKING SUPERVISION BANKS BOOKKEEPING CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITALIZATION CENTRAL BANK COLLECTIVE INVESTMENT COLLECTIVE INVESTMENTS COMMERCIAL BANKS COMPLIANCE GAPS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENT LIABILITIES CORPORATE GOVERNANCE CREDIBILITY CREDIT LOSSES CREDITOR CREDITOR RIGHTS CREDITORS DEBT DEVELOPMENT BANK DISCLOSURE REQUIREMENTS DUE DILIGENCE ECONOMIC DEVELOPMENT EMPLOYMENT ENABLING ENVIRONMENT ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS EQUIPMENT EQUITY INVESTMENT EXCHANGE COMMISSION EXCHANGE RATE EXPENDITURES EXTERNAL AUDITORS FAIR VALUES FIDUCIARY RESPONSIBILITY FINANCIAL ASSET FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SECTOR DEVELOPMENT FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL POLICY FIXED ASSETS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURE FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN INVESTMENTS FUTURE CASH FLOWS FUTURE CREDIT GLOBAL ECONOMY GOOD PRACTICE GROSS DOMESTIC PRODUCT IMAGE INADEQUATE DISCLOSURE INCOME INEQUALITIES INCOME TAX INFORMATION TECHNOLOGY INSTITUTIONAL CAPACITY INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL DEVELOPMENT INTERNATIONAL DEVELOPMENTS INTERNATIONAL MARKET INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVENTORY INVESTMENT CLIMATE INVESTMENT OPPORTUNITIES INVESTOR CONFIDENCE LEGAL PROVISIONS LEGAL SYSTEM LEGISLATION LEVEL OF DEBT LIABILITY LIQUIDITY LOAN MANDATES MARKET CAPITALIZATION MARKET EFFICIENCY MARKET PARTICIPANTS MARKET REGULATOR MINORITY INVESTORS MINORITY SHAREHOLDERS MONETARY FUND OFF BALANCE SHEET OFF BALANCE SHEET ITEMS OWNERSHIP INTERESTS PENALTIES PENSION PENSION FUNDS PORTFOLIO PRESENT VALUE PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PUBLIC ACCOUNTANTS PUBLIC ACCOUNTING QUALITY ASSURANCE QUALITY CONTROL RECURRENT EXPENDITURES REGULATORY FRAMEWORK RETURN RETURNS SAVINGS SAVINGS BANK SECURITIES SECURITIES MARKET SECURITIES REGULATION SHAREHOLDERS SOLVENCY STATUTORY AUDITORS STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK EXCHANGE LISTING STOCK MARKET STOCKS SUBSIDIARIES TAX ADMINISTRATION TAX LAWS TAXATION TERRORISM TRADING TRANSACTION TRANSPARENCY TURNOVER VALUATION
spellingShingle	ACCESS TO CAPITAL ACCESS TO FINANCING ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANCY FIRMS ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULUM ACCOUNTING FIRM ACCOUNTING PERIOD ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING STANDARDS ACCOUNTS ADEQUATE DISCLOSURE ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ATTESTATION AUDIT COMMITTEE AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDIT RISK AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROCEDURES AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BANK LOAN BANK OF BOTSWANA BANKING INSTITUTIONS BANKING RISKS BANKING SECTOR BANKING SUPERVISION BANKS BOOKKEEPING CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITALIZATION CENTRAL BANK COLLECTIVE INVESTMENT COLLECTIVE INVESTMENTS COMMERCIAL BANKS COMPLIANCE GAPS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENT LIABILITIES CORPORATE GOVERNANCE CREDIBILITY CREDIT LOSSES CREDITOR CREDITOR RIGHTS CREDITORS DEBT DEVELOPMENT BANK DISCLOSURE REQUIREMENTS DUE DILIGENCE ECONOMIC DEVELOPMENT EMPLOYMENT ENABLING ENVIRONMENT ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS EQUIPMENT EQUITY INVESTMENT EXCHANGE COMMISSION EXCHANGE RATE EXPENDITURES EXTERNAL AUDITORS FAIR VALUES FIDUCIARY RESPONSIBILITY FINANCIAL ASSET FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SECTOR DEVELOPMENT FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL POLICY FIXED ASSETS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURE FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN INVESTMENTS FUTURE CASH FLOWS FUTURE CREDIT GLOBAL ECONOMY GOOD PRACTICE GROSS DOMESTIC PRODUCT IMAGE INADEQUATE DISCLOSURE INCOME INEQUALITIES INCOME TAX INFORMATION TECHNOLOGY INSTITUTIONAL CAPACITY INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL DEVELOPMENT INTERNATIONAL DEVELOPMENTS INTERNATIONAL MARKET INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVENTORY INVESTMENT CLIMATE INVESTMENT OPPORTUNITIES INVESTOR CONFIDENCE LEGAL PROVISIONS LEGAL SYSTEM LEGISLATION LEVEL OF DEBT LIABILITY LIQUIDITY LOAN MANDATES MARKET CAPITALIZATION MARKET EFFICIENCY MARKET PARTICIPANTS MARKET REGULATOR MINORITY INVESTORS MINORITY SHAREHOLDERS MONETARY FUND OFF BALANCE SHEET OFF BALANCE SHEET ITEMS OWNERSHIP INTERESTS PENALTIES PENSION PENSION FUNDS PORTFOLIO PRESENT VALUE PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PUBLIC ACCOUNTANTS PUBLIC ACCOUNTING QUALITY ASSURANCE QUALITY CONTROL RECURRENT EXPENDITURES REGULATORY FRAMEWORK RETURN RETURNS SAVINGS SAVINGS BANK SECURITIES SECURITIES MARKET SECURITIES REGULATION SHAREHOLDERS SOLVENCY STATUTORY AUDITORS STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK EXCHANGE LISTING STOCK MARKET STOCKS SUBSIDIARIES TAX ADMINISTRATION TAX LAWS TAXATION TERRORISM TRADING TRANSACTION TRANSPARENCY TURNOVER VALUATION World Bank Republic of Botswana : Accounting and Auditing
geographic_facet	Africa Botswana
description	This accounting and auditing report, part of the Observance of Standards and Codes (ROSC) for the Republic of Botswana, provides an assessment of accounting and auditing practices within the corporate sector in Botswana with reference to the International Financial Reporting Standards issued by the International Accounting Standards Board, and International Standards on Auditing issued by the International Federation of Accountants. Botswana has made considerable efforts in aligning its accounting and auditing practices with internationally accepted standards and codes. Corporate accounting and disclosure practices have considerably improved over the last 5 years. Monitoring and enforcement of financial reporting requirements in the banking sector have contributed to improved transparency of the financial sector. Even with progress, there is room for further improvements. The report highlights areas that need attention for strengthening the infrastructure of accounting and auditing practices in Botswana. The report concludes with recommendations to integrate with regional and sub-regional initiatives, wherever applicable, to share resources in order to strengthen accounting and auditing practices in Botswana.
format	Economic & Sector Work :: Accounting and Auditing Assessment (ROSC)
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Republic of Botswana : Accounting and Auditing
title_short	Republic of Botswana : Accounting and Auditing
title_full	Republic of Botswana : Accounting and Auditing
title_fullStr	Republic of Botswana : Accounting and Auditing
title_full_unstemmed	Republic of Botswana : Accounting and Auditing
title_sort	republic of botswana : accounting and auditing
publisher	Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2006/05/16275178/republic-botswana-report-observance-standards-codes-rosc http://hdl.handle.net/10986/8239
_version_	1764404732375334912
spelling	okr-10986-82392021-04-23T14:02:38Z Republic of Botswana : Accounting and Auditing World Bank ACCESS TO CAPITAL ACCESS TO FINANCING ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANCY FIRMS ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING CURRICULUM ACCOUNTING FIRM ACCOUNTING PERIOD ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING STANDARDS ACCOUNTS ADEQUATE DISCLOSURE ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ATTESTATION AUDIT COMMITTEE AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDIT RISK AUDITED FINANCIAL INFORMATION AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROCEDURES AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTONOMY BANK LOAN BANK OF BOTSWANA BANKING INSTITUTIONS BANKING RISKS BANKING SECTOR BANKING SUPERVISION BANKS BOOKKEEPING CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITALIZATION CENTRAL BANK COLLECTIVE INVESTMENT COLLECTIVE INVESTMENTS COMMERCIAL BANKS COMPLIANCE GAPS CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENT LIABILITIES CORPORATE GOVERNANCE CREDIBILITY CREDIT LOSSES CREDITOR CREDITOR RIGHTS CREDITORS DEBT DEVELOPMENT BANK DISCLOSURE REQUIREMENTS DUE DILIGENCE ECONOMIC DEVELOPMENT EMPLOYMENT ENABLING ENVIRONMENT ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS EQUIPMENT EQUITY INVESTMENT EXCHANGE COMMISSION EXCHANGE RATE EXPENDITURES EXTERNAL AUDITORS FAIR VALUES FIDUCIARY RESPONSIBILITY FINANCIAL ASSET FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SECTOR DEVELOPMENT FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL POLICY FIXED ASSETS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURE FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN INVESTMENTS FUTURE CASH FLOWS FUTURE CREDIT GLOBAL ECONOMY GOOD PRACTICE GROSS DOMESTIC PRODUCT IMAGE INADEQUATE DISCLOSURE INCOME INEQUALITIES INCOME TAX INFORMATION TECHNOLOGY INSTITUTIONAL CAPACITY INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL DEVELOPMENT INTERNATIONAL DEVELOPMENTS INTERNATIONAL MARKET INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVENTORY INVESTMENT CLIMATE INVESTMENT OPPORTUNITIES INVESTOR CONFIDENCE LEGAL PROVISIONS LEGAL SYSTEM LEGISLATION LEVEL OF DEBT LIABILITY LIQUIDITY LOAN MANDATES MARKET CAPITALIZATION MARKET EFFICIENCY MARKET PARTICIPANTS MARKET REGULATOR MINORITY INVESTORS MINORITY SHAREHOLDERS MONETARY FUND OFF BALANCE SHEET OFF BALANCE SHEET ITEMS OWNERSHIP INTERESTS PENALTIES PENSION PENSION FUNDS PORTFOLIO PRESENT VALUE PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PUBLIC ACCOUNTANTS PUBLIC ACCOUNTING QUALITY ASSURANCE QUALITY CONTROL RECURRENT EXPENDITURES REGULATORY FRAMEWORK RETURN RETURNS SAVINGS SAVINGS BANK SECURITIES SECURITIES MARKET SECURITIES REGULATION SHAREHOLDERS SOLVENCY STATUTORY AUDITORS STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK EXCHANGE LISTING STOCK MARKET STOCKS SUBSIDIARIES TAX ADMINISTRATION TAX LAWS TAXATION TERRORISM TRADING TRANSACTION TRANSPARENCY TURNOVER VALUATION This accounting and auditing report, part of the Observance of Standards and Codes (ROSC) for the Republic of Botswana, provides an assessment of accounting and auditing practices within the corporate sector in Botswana with reference to the International Financial Reporting Standards issued by the International Accounting Standards Board, and International Standards on Auditing issued by the International Federation of Accountants. Botswana has made considerable efforts in aligning its accounting and auditing practices with internationally accepted standards and codes. Corporate accounting and disclosure practices have considerably improved over the last 5 years. Monitoring and enforcement of financial reporting requirements in the banking sector have contributed to improved transparency of the financial sector. Even with progress, there is room for further improvements. The report highlights areas that need attention for strengthening the infrastructure of accounting and auditing practices in Botswana. The report concludes with recommendations to integrate with regional and sub-regional initiatives, wherever applicable, to share resources in order to strengthen accounting and auditing practices in Botswana. 2012-06-18T14:10:04Z 2012-06-18T14:10:04Z 2006-05 http://documents.worldbank.org/curated/en/2006/05/16275178/republic-botswana-report-observance-standards-codes-rosc http://hdl.handle.net/10986/8239 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 Botswana

Republic of Botswana : Accounting and Auditing

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