El Salvador : Accounting and Auditing

This report provides an assessment of accounting and auditing practices within El Salvador's corporate sector. It used International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks, and drew on international experience and good practices in those...

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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 FINANCING ACCOUNT ACCOUNTANCY ACCOUNTANT ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING CURRICULUM ACCOUNTING FIRM ACCOUNTING FIRMS ACCOUNTING METHODS ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING SERVICES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTING TREATMENT ACCOUNTS ACQUISITION AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING STANDARDS AUDITORS BALANCE SHEET BANKING LAW BANKING SECTOR BENEFICIARIES BORROWING BORROWING COSTS BORROWINGS BROKERAGE BROKERAGE FIRMS BUDGET CONSTRAINTS BUSINESS COMBINATIONS BUSINESS COMMUNITY BUSINESS SECRETS CAPACITY CONSTRAINTS CAPITAL MARKET CAPITAL MARKETS CAPITALIZATION CASH FLOWS CENTRAL BANK CERTIFIED PUBLIC ACCOUNTANTS CHARTS OF ACCOUNTS COLLATERAL COLLATERAL REQUIREMENTS COLLEGE DEGREE COMMERCIAL BANKING COMMERCIAL BANKS COMMERCIAL REGISTRY COMPANY LAW CONFIRMATIONS CONSUMERS CORPORATE GOVERNANCE CREDIBILITY CREDIT RISK CREDITORS CURRENCY DEBT ISSUANCE DEBTORS DEPOSIT DEVELOPMENT BANK DUE DILIGENCE EDUCATION STANDARDS EMERGING ECONOMIES EQUITY INSTRUMENTS EQUITY SECURITIES EQUITY VALUE EXTERNAL DEBT EXTERNAL INVESTORS EXTERNAL SHOCKS FAIR VALUE FINANCIAL ACCOUNTING FINANCIAL ACCOUNTING STANDARDS FINANCIAL COMPANIES FINANCIAL CRISES FINANCIAL HEALTH FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL YEARS FIXED ASSETS FIXED INCOME FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FOREIGN LENDERS FUND MANAGEMENT FUND MANAGERS GAAP GOOD PRACTICE GOOD PRACTICES GOODWILL GOVERNMENT ACCOUNTING GOVERNMENT ACCOUNTING STANDARDS GROSS DOMESTIC PRODUCT HOLDING HUMAN RESOURCES IMPLICIT TAX INCOME INSTRUMENTS INCOME TAX INCOME TAXES INDEBTEDNESS INFLATION INFORMATION TECHNOLOGY INITIAL PUBLIC OFFERINGS INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL INVESTORS INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVENTORIES INVENTORY INVESTING INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT INVESTMENT DECISION INVESTMENT FUND INVESTMENT OPPORTUNITIES INVESTMENT POLICIES JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANY LEGAL FRAMEWORK LEGAL RECOURSE LENDER LEVEL OF RISK LIMITED LIABILITY LOAN LOAN PORTFOLIO LOCAL SECURITIES LONG-TERM ASSET LONG-TERM SAVINGS MARKET CONCENTRATION MARKET PARTICIPANTS MARKET VALUE MEDIUM ENTERPRISES MINIMUM WAGE MINIMUM WAGES MONETARY FUND OIL PRICES PENSION PENSION FUND PENSION FUND ADMINISTRATOR PENSION FUND ADMINISTRATORS PENSION FUNDS PENSION SYSTEM PENSIONS PRIVATE PENSION PRIVATE PENSION FUNDS PROCUREMENT PROFESSIONAL ASSOCIATIONS PRUDENTIAL STANDARDS PUBLIC ACCOUNTANTS PUBLIC ACCOUNTING PUBLIC DISCLOSURE PUBLIC REGISTER QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REAL ESTATE REGISTRATION PROCESS REGULATORY PRACTICES REMITTANCES RESPONSIBILITIES RETURN RETURNS SALE SALES SECONDARY MARKET SECURITIES MARKET SECURITIES MARKET LAW SHAREHOLDERS SMALL BUSINESS SMALL BUSINESSES SOLVENCY STAKEHOLDERS STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK MARKET TAX TAX LAW TAX OBLIGATIONS TELECOMMUNICATIONS TRADING TRAINING COURSES TRANSPARENCY TREASURY TREASURY BONDS UNAUDITED FINANCIAL STATEMENTS VALUATION VALUATION OF SECURITIES WORLD MARKETS
Online Access:	http://documents.worldbank.org/curated/en/2005/06/8359260/el-salvador-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/8749

id	okr-10986-8749
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 FINANCING ACCOUNT ACCOUNTANCY ACCOUNTANT ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING CURRICULUM ACCOUNTING FIRM ACCOUNTING FIRMS ACCOUNTING METHODS ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING SERVICES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTING TREATMENT ACCOUNTS ACQUISITION AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING STANDARDS AUDITORS BALANCE SHEET BANKING LAW BANKING SECTOR BENEFICIARIES BORROWING BORROWING COSTS BORROWINGS BROKERAGE BROKERAGE FIRMS BUDGET CONSTRAINTS BUSINESS COMBINATIONS BUSINESS COMMUNITY BUSINESS SECRETS CAPACITY CONSTRAINTS CAPITAL MARKET CAPITAL MARKETS CAPITALIZATION CASH FLOWS CENTRAL BANK CERTIFIED PUBLIC ACCOUNTANTS CHARTS OF ACCOUNTS COLLATERAL COLLATERAL REQUIREMENTS COLLEGE DEGREE COMMERCIAL BANKING COMMERCIAL BANKS COMMERCIAL REGISTRY COMPANY LAW CONFIRMATIONS CONSUMERS CORPORATE GOVERNANCE CREDIBILITY CREDIT RISK CREDITORS CURRENCY DEBT ISSUANCE DEBTORS DEPOSIT DEVELOPMENT BANK DUE DILIGENCE EDUCATION STANDARDS EMERGING ECONOMIES EQUITY INSTRUMENTS EQUITY SECURITIES EQUITY VALUE EXTERNAL DEBT EXTERNAL INVESTORS EXTERNAL SHOCKS FAIR VALUE FINANCIAL ACCOUNTING FINANCIAL ACCOUNTING STANDARDS FINANCIAL COMPANIES FINANCIAL CRISES FINANCIAL HEALTH FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL YEARS FIXED ASSETS FIXED INCOME FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FOREIGN LENDERS FUND MANAGEMENT FUND MANAGERS GAAP GOOD PRACTICE GOOD PRACTICES GOODWILL GOVERNMENT ACCOUNTING GOVERNMENT ACCOUNTING STANDARDS GROSS DOMESTIC PRODUCT HOLDING HUMAN RESOURCES IMPLICIT TAX INCOME INSTRUMENTS INCOME TAX INCOME TAXES INDEBTEDNESS INFLATION INFORMATION TECHNOLOGY INITIAL PUBLIC OFFERINGS INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL INVESTORS INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVENTORIES INVENTORY INVESTING INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT INVESTMENT DECISION INVESTMENT FUND INVESTMENT OPPORTUNITIES INVESTMENT POLICIES JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANY LEGAL FRAMEWORK LEGAL RECOURSE LENDER LEVEL OF RISK LIMITED LIABILITY LOAN LOAN PORTFOLIO LOCAL SECURITIES LONG-TERM ASSET LONG-TERM SAVINGS MARKET CONCENTRATION MARKET PARTICIPANTS MARKET VALUE MEDIUM ENTERPRISES MINIMUM WAGE MINIMUM WAGES MONETARY FUND OIL PRICES PENSION PENSION FUND PENSION FUND ADMINISTRATOR PENSION FUND ADMINISTRATORS PENSION FUNDS PENSION SYSTEM PENSIONS PRIVATE PENSION PRIVATE PENSION FUNDS PROCUREMENT PROFESSIONAL ASSOCIATIONS PRUDENTIAL STANDARDS PUBLIC ACCOUNTANTS PUBLIC ACCOUNTING PUBLIC DISCLOSURE PUBLIC REGISTER QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REAL ESTATE REGISTRATION PROCESS REGULATORY PRACTICES REMITTANCES RESPONSIBILITIES RETURN RETURNS SALE SALES SECONDARY MARKET SECURITIES MARKET SECURITIES MARKET LAW SHAREHOLDERS SMALL BUSINESS SMALL BUSINESSES SOLVENCY STAKEHOLDERS STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK MARKET TAX TAX LAW TAX OBLIGATIONS TELECOMMUNICATIONS TRADING TRAINING COURSES TRANSPARENCY TREASURY TREASURY BONDS UNAUDITED FINANCIAL STATEMENTS VALUATION VALUATION OF SECURITIES WORLD MARKETS
spellingShingle	ACCESS TO FINANCING ACCOUNT ACCOUNTANCY ACCOUNTANT ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING CURRICULUM ACCOUNTING FIRM ACCOUNTING FIRMS ACCOUNTING METHODS ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING SERVICES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTING TREATMENT ACCOUNTS ACQUISITION AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING STANDARDS AUDITORS BALANCE SHEET BANKING LAW BANKING SECTOR BENEFICIARIES BORROWING BORROWING COSTS BORROWINGS BROKERAGE BROKERAGE FIRMS BUDGET CONSTRAINTS BUSINESS COMBINATIONS BUSINESS COMMUNITY BUSINESS SECRETS CAPACITY CONSTRAINTS CAPITAL MARKET CAPITAL MARKETS CAPITALIZATION CASH FLOWS CENTRAL BANK CERTIFIED PUBLIC ACCOUNTANTS CHARTS OF ACCOUNTS COLLATERAL COLLATERAL REQUIREMENTS COLLEGE DEGREE COMMERCIAL BANKING COMMERCIAL BANKS COMMERCIAL REGISTRY COMPANY LAW CONFIRMATIONS CONSUMERS CORPORATE GOVERNANCE CREDIBILITY CREDIT RISK CREDITORS CURRENCY DEBT ISSUANCE DEBTORS DEPOSIT DEVELOPMENT BANK DUE DILIGENCE EDUCATION STANDARDS EMERGING ECONOMIES EQUITY INSTRUMENTS EQUITY SECURITIES EQUITY VALUE EXTERNAL DEBT EXTERNAL INVESTORS EXTERNAL SHOCKS FAIR VALUE FINANCIAL ACCOUNTING FINANCIAL ACCOUNTING STANDARDS FINANCIAL COMPANIES FINANCIAL CRISES FINANCIAL HEALTH FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL YEARS FIXED ASSETS FIXED INCOME FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FOREIGN LENDERS FUND MANAGEMENT FUND MANAGERS GAAP GOOD PRACTICE GOOD PRACTICES GOODWILL GOVERNMENT ACCOUNTING GOVERNMENT ACCOUNTING STANDARDS GROSS DOMESTIC PRODUCT HOLDING HUMAN RESOURCES IMPLICIT TAX INCOME INSTRUMENTS INCOME TAX INCOME TAXES INDEBTEDNESS INFLATION INFORMATION TECHNOLOGY INITIAL PUBLIC OFFERINGS INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL INVESTORS INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVENTORIES INVENTORY INVESTING INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT INVESTMENT DECISION INVESTMENT FUND INVESTMENT OPPORTUNITIES INVESTMENT POLICIES JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANY LEGAL FRAMEWORK LEGAL RECOURSE LENDER LEVEL OF RISK LIMITED LIABILITY LOAN LOAN PORTFOLIO LOCAL SECURITIES LONG-TERM ASSET LONG-TERM SAVINGS MARKET CONCENTRATION MARKET PARTICIPANTS MARKET VALUE MEDIUM ENTERPRISES MINIMUM WAGE MINIMUM WAGES MONETARY FUND OIL PRICES PENSION PENSION FUND PENSION FUND ADMINISTRATOR PENSION FUND ADMINISTRATORS PENSION FUNDS PENSION SYSTEM PENSIONS PRIVATE PENSION PRIVATE PENSION FUNDS PROCUREMENT PROFESSIONAL ASSOCIATIONS PRUDENTIAL STANDARDS PUBLIC ACCOUNTANTS PUBLIC ACCOUNTING PUBLIC DISCLOSURE PUBLIC REGISTER QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REAL ESTATE REGISTRATION PROCESS REGULATORY PRACTICES REMITTANCES RESPONSIBILITIES RETURN RETURNS SALE SALES SECONDARY MARKET SECURITIES MARKET SECURITIES MARKET LAW SHAREHOLDERS SMALL BUSINESS SMALL BUSINESSES SOLVENCY STAKEHOLDERS STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK MARKET TAX TAX LAW TAX OBLIGATIONS TELECOMMUNICATIONS TRADING TRAINING COURSES TRANSPARENCY TREASURY TREASURY BONDS UNAUDITED FINANCIAL STATEMENTS VALUATION VALUATION OF SECURITIES WORLD MARKETS World Bank El Salvador : Accounting and Auditing
geographic_facet	Latin America & Caribbean America Central America El Salvador
description	This report provides an assessment of accounting and auditing practices within El Salvador's corporate sector. It used International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks, and drew on international experience and good practices in those fields. Both statutory requirements and actual practices were analyzed as part of this review. The purpose of this ROSC is to assist the Government of El Salvador in strengthening the private sector's accounting and auditing practices and financial transparency. The development objectives these efforts address are (a) fostering the growth and accountability of the private sector, (b) ensuring adequate market regulation with respect to the provision of essential services, and (c) making the business environment more attractive for foreign direct investment (FDI). The recommendations of this ROSC are intended to serve as the basis for a country action plan to be developed by the Government of El Salvador in collaboration with in-country stakeholders and with the assistance of the World Bank and other donors.
format	Economic & Sector Work :: Accounting and Auditing Assessment (ROSC)
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	El Salvador : Accounting and Auditing
title_short	El Salvador : Accounting and Auditing
title_full	El Salvador : Accounting and Auditing
title_fullStr	El Salvador : Accounting and Auditing
title_full_unstemmed	El Salvador : Accounting and Auditing
title_sort	el salvador : accounting and auditing
publisher	Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/06/8359260/el-salvador-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/8749
_version_	1764405666029502464
spelling	okr-10986-87492021-04-23T14:02:40Z El Salvador : Accounting and Auditing World Bank ACCESS TO FINANCING ACCOUNT ACCOUNTANCY ACCOUNTANT ACCOUNTING ACCOUNTING CURRICULA ACCOUNTING CURRICULUM ACCOUNTING FIRM ACCOUNTING FIRMS ACCOUNTING METHODS ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING SERVICES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCOUNTING TREATMENT ACCOUNTS ACQUISITION AUDIT COMMITTEES AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT REPORTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING STANDARDS AUDITORS BALANCE SHEET BANKING LAW BANKING SECTOR BENEFICIARIES BORROWING BORROWING COSTS BORROWINGS BROKERAGE BROKERAGE FIRMS BUDGET CONSTRAINTS BUSINESS COMBINATIONS BUSINESS COMMUNITY BUSINESS SECRETS CAPACITY CONSTRAINTS CAPITAL MARKET CAPITAL MARKETS CAPITALIZATION CASH FLOWS CENTRAL BANK CERTIFIED PUBLIC ACCOUNTANTS CHARTS OF ACCOUNTS COLLATERAL COLLATERAL REQUIREMENTS COLLEGE DEGREE COMMERCIAL BANKING COMMERCIAL BANKS COMMERCIAL REGISTRY COMPANY LAW CONFIRMATIONS CONSUMERS CORPORATE GOVERNANCE CREDIBILITY CREDIT RISK CREDITORS CURRENCY DEBT ISSUANCE DEBTORS DEPOSIT DEVELOPMENT BANK DUE DILIGENCE EDUCATION STANDARDS EMERGING ECONOMIES EQUITY INSTRUMENTS EQUITY SECURITIES EQUITY VALUE EXTERNAL DEBT EXTERNAL INVESTORS EXTERNAL SHOCKS FAIR VALUE FINANCIAL ACCOUNTING FINANCIAL ACCOUNTING STANDARDS FINANCIAL COMPANIES FINANCIAL CRISES FINANCIAL HEALTH FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL SECTOR FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL YEARS FIXED ASSETS FIXED INCOME FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FOREIGN LENDERS FUND MANAGEMENT FUND MANAGERS GAAP GOOD PRACTICE GOOD PRACTICES GOODWILL GOVERNMENT ACCOUNTING GOVERNMENT ACCOUNTING STANDARDS GROSS DOMESTIC PRODUCT HOLDING HUMAN RESOURCES IMPLICIT TAX INCOME INSTRUMENTS INCOME TAX INCOME TAXES INDEBTEDNESS INFLATION INFORMATION TECHNOLOGY INITIAL PUBLIC OFFERINGS INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL INVESTORS INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVENTORIES INVENTORY INVESTING INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT INVESTMENT DECISION INVESTMENT FUND INVESTMENT OPPORTUNITIES INVESTMENT POLICIES JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANY LEGAL FRAMEWORK LEGAL RECOURSE LENDER LEVEL OF RISK LIMITED LIABILITY LOAN LOAN PORTFOLIO LOCAL SECURITIES LONG-TERM ASSET LONG-TERM SAVINGS MARKET CONCENTRATION MARKET PARTICIPANTS MARKET VALUE MEDIUM ENTERPRISES MINIMUM WAGE MINIMUM WAGES MONETARY FUND OIL PRICES PENSION PENSION FUND PENSION FUND ADMINISTRATOR PENSION FUND ADMINISTRATORS PENSION FUNDS PENSION SYSTEM PENSIONS PRIVATE PENSION PRIVATE PENSION FUNDS PROCUREMENT PROFESSIONAL ASSOCIATIONS PRUDENTIAL STANDARDS PUBLIC ACCOUNTANTS PUBLIC ACCOUNTING PUBLIC DISCLOSURE PUBLIC REGISTER QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REAL ESTATE REGISTRATION PROCESS REGULATORY PRACTICES REMITTANCES RESPONSIBILITIES RETURN RETURNS SALE SALES SECONDARY MARKET SECURITIES MARKET SECURITIES MARKET LAW SHAREHOLDERS SMALL BUSINESS SMALL BUSINESSES SOLVENCY STAKEHOLDERS STATUTORY REQUIREMENTS STOCK EXCHANGE STOCK MARKET TAX TAX LAW TAX OBLIGATIONS TELECOMMUNICATIONS TRADING TRAINING COURSES TRANSPARENCY TREASURY TREASURY BONDS UNAUDITED FINANCIAL STATEMENTS VALUATION VALUATION OF SECURITIES WORLD MARKETS This report provides an assessment of accounting and auditing practices within El Salvador's corporate sector. It used International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks, and drew on international experience and good practices in those fields. Both statutory requirements and actual practices were analyzed as part of this review. The purpose of this ROSC is to assist the Government of El Salvador in strengthening the private sector's accounting and auditing practices and financial transparency. The development objectives these efforts address are (a) fostering the growth and accountability of the private sector, (b) ensuring adequate market regulation with respect to the provision of essential services, and (c) making the business environment more attractive for foreign direct investment (FDI). The recommendations of this ROSC are intended to serve as the basis for a country action plan to be developed by the Government of El Salvador in collaboration with in-country stakeholders and with the assistance of the World Bank and other donors. 2012-06-22T13:43:10Z 2012-06-22T13:43:10Z 2005-06 http://documents.worldbank.org/curated/en/2005/06/8359260/el-salvador-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/8749 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 Latin America & Caribbean America Central America El Salvador

El Salvador : Accounting and Auditing

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