Pakistan : Accounting and Auditing
This report is based on an assessment of accounting and auditing practices in the Islamic Republic of Pakistan. It forms part of a joint initiative between the World Bank and the International Monetary Fund on Reports on the Observance of Standards and Codes (ROSC). The assessment focuses on the str...
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Format: | Accounting and Auditing Assessment (ROSC) |
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2012
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Online Access: | http://documents.worldbank.org/curated/en/2005/03/6530611/pakistan-report-observance-standards-codes-rosc http://hdl.handle.net/10986/8433 |
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okr-10986-84332021-04-23T14:02:39Z Pakistan : Accounting and Auditing World Bank ACCOUNTING ACCOUNTING POLICIES ACCOUNTING STANDARDS ACCOUNTING TREATMENT ACCUMULATED DEPRECIATION ADEQUATE DISCLOSURE AFFILIATES AUDITING AUDITORS AUDITS BANKING SECTOR BANKING SUPERVISION BANKS CAPITAL MARKETS CAPITALIZATION CHARTERED ACCOUNTANTS COMPANY CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CORPORATE ACCOUNTING CORPORATE GOVERNANCE CORPORATE MANAGEMENT DISCLOSURE OF INFORMATION EARNINGS PER SHARE ECONOMIC GROWTH EMPLOYMENT EXTERNAL AUDITORS FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL STABILITY FIRMS FISCAL POLICY FOREIGN EXCHANGE HOUSING INCOME STATEMENTS INSURANCE INTANGIBLE ASSETS INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCIAL STABILITY INVENTORY INVESTMENT BANKS LAWS LEASING LICENSING LISTED COMPANIES MARKET VALUE OPERATING LEASE PENALTIES PRESENT VALUE PRIVATE COMPANIES PRUDENTIAL REGULATIONS SECURITIES SHAREHOLDERS SME STATE BANK OF PAKISTAN STOCK EXCHANGES STOCK MARKETS SUBSIDIARIES TAXATION TRANSPARENCY VENTURE CAPITAL VENTURE CAPITAL COMPANIES This report is based on an assessment of accounting and auditing practices in the Islamic Republic of Pakistan. It forms part of a joint initiative between the World Bank and the International Monetary Fund on Reports on the Observance of Standards and Codes (ROSC). The assessment focuses on the strengths and weaknesses of corporate accounting and auditing practices in Pakistan and involves a review of both mandatory requirements and actual practice. The report consists of policy recommendations to be used as inputs in developing a Country Action Plan. The objectives of these recommendations are to consolidate the prior achievements, improve knowledge base among auditors and the preparers of financial statements, and strengthen the monitoring and enforcement mechanisms for ensuring compliance with applicable standards and codes. The recommendations include improving the capacity of regulators and professional bodies, upgrading accountancy education and training with focus on practical application of International Financial Reporting Standards and International Standards of Auditing, issuing and disseminating implementation guidance on applicable standards, instituting a system for independent oversight of auditing profession, developing simplified reporting requirements for small- and medium-sized enterprises, upgrading the licensing procedure of professional accountants and auditors, and enhancing the delivery of continuing professional education. 2012-06-19T16:56:54Z 2012-06-19T16:56:54Z 2005-03 http://documents.worldbank.org/curated/en/2005/03/6530611/pakistan-report-observance-standards-codes-rosc http://hdl.handle.net/10986/8433 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 South Asia Asia South Asia Pakistan |
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 |
ACCOUNTING ACCOUNTING POLICIES ACCOUNTING STANDARDS ACCOUNTING TREATMENT ACCUMULATED DEPRECIATION ADEQUATE DISCLOSURE AFFILIATES AUDITING AUDITORS AUDITS BANKING SECTOR BANKING SUPERVISION BANKS CAPITAL MARKETS CAPITALIZATION CHARTERED ACCOUNTANTS COMPANY CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CORPORATE ACCOUNTING CORPORATE GOVERNANCE CORPORATE MANAGEMENT DISCLOSURE OF INFORMATION EARNINGS PER SHARE ECONOMIC GROWTH EMPLOYMENT EXTERNAL AUDITORS FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL STABILITY FIRMS FISCAL POLICY FOREIGN EXCHANGE HOUSING INCOME STATEMENTS INSURANCE INTANGIBLE ASSETS INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCIAL STABILITY INVENTORY INVESTMENT BANKS LAWS LEASING LICENSING LISTED COMPANIES MARKET VALUE OPERATING LEASE PENALTIES PRESENT VALUE PRIVATE COMPANIES PRUDENTIAL REGULATIONS SECURITIES SHAREHOLDERS SME STATE BANK OF PAKISTAN STOCK EXCHANGES STOCK MARKETS SUBSIDIARIES TAXATION TRANSPARENCY VENTURE CAPITAL VENTURE CAPITAL COMPANIES |
spellingShingle |
ACCOUNTING ACCOUNTING POLICIES ACCOUNTING STANDARDS ACCOUNTING TREATMENT ACCUMULATED DEPRECIATION ADEQUATE DISCLOSURE AFFILIATES AUDITING AUDITORS AUDITS BANKING SECTOR BANKING SUPERVISION BANKS CAPITAL MARKETS CAPITALIZATION CHARTERED ACCOUNTANTS COMPANY CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CORPORATE ACCOUNTING CORPORATE GOVERNANCE CORPORATE MANAGEMENT DISCLOSURE OF INFORMATION EARNINGS PER SHARE ECONOMIC GROWTH EMPLOYMENT EXTERNAL AUDITORS FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL REPORTING FINANCIAL STABILITY FIRMS FISCAL POLICY FOREIGN EXCHANGE HOUSING INCOME STATEMENTS INSURANCE INTANGIBLE ASSETS INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCIAL STABILITY INVENTORY INVESTMENT BANKS LAWS LEASING LICENSING LISTED COMPANIES MARKET VALUE OPERATING LEASE PENALTIES PRESENT VALUE PRIVATE COMPANIES PRUDENTIAL REGULATIONS SECURITIES SHAREHOLDERS SME STATE BANK OF PAKISTAN STOCK EXCHANGES STOCK MARKETS SUBSIDIARIES TAXATION TRANSPARENCY VENTURE CAPITAL VENTURE CAPITAL COMPANIES World Bank Pakistan : Accounting and Auditing |
geographic_facet |
South Asia Asia South Asia Pakistan |
description |
This report is based on an assessment of accounting and auditing practices in the Islamic Republic of Pakistan. It forms part of a joint initiative between the World Bank and the International Monetary Fund on Reports on the Observance of Standards and Codes (ROSC). The assessment focuses on the strengths and weaknesses of corporate accounting and auditing practices in Pakistan and involves a review of both mandatory requirements and actual practice. The report consists of policy recommendations to be used as inputs in developing a Country Action Plan. The objectives of these recommendations are to consolidate the prior achievements, improve knowledge base among auditors and the preparers of financial statements, and strengthen the monitoring and enforcement mechanisms for ensuring compliance with applicable standards and codes. The recommendations include improving the capacity of regulators and professional bodies, upgrading accountancy education and training with focus on practical application of International Financial Reporting Standards and International Standards of Auditing, issuing and disseminating implementation guidance on applicable standards, instituting a system for independent oversight of auditing profession, developing simplified reporting requirements for small- and medium-sized enterprises, upgrading the licensing procedure of professional accountants and auditors, and enhancing the delivery of continuing professional education. |
format |
Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) |
author |
World Bank |
author_facet |
World Bank |
author_sort |
World Bank |
title |
Pakistan : Accounting and Auditing |
title_short |
Pakistan : Accounting and Auditing |
title_full |
Pakistan : Accounting and Auditing |
title_fullStr |
Pakistan : Accounting and Auditing |
title_full_unstemmed |
Pakistan : Accounting and Auditing |
title_sort |
pakistan : accounting and auditing |
publisher |
Washington, DC |
publishDate |
2012 |
url |
http://documents.worldbank.org/curated/en/2005/03/6530611/pakistan-report-observance-standards-codes-rosc http://hdl.handle.net/10986/8433 |
_version_ |
1764405387052711936 |