Accounting and Auditing Assessment

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    Report on the Observance of Standards and Codes on Accounting and Auditing: Indonesia
    (World Bank, Washington, DC, 2018-05-01) World Bank Group
    Reports on the Observance of Standards and Codes Accounting and Auditing (‘ROSC A&A’) assessfinancial reporting and auditing standards, institutions and practices in participating countries.These reports form part of a joint initiative implemented by the World Bank and the InternationalMonetary Fund to review the quality of implementation of internationally recognized standardsand principles in 12 key areas (‘the ROSC program’) with a view to promoting financial andeconomic stability. This report provides an assessment of financial reporting and auditing requirements and practices within the corporate sector in Indonesia and sets forth areas for consideration for improving the institutional environment for A&A. The ROSC A&A used international benchmarks of good practice governing financial reporting and auditing in the assessment, includingInternational Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA).This report updates an earlier assessment which was published in 2011 and was undertakenfollowing a formal request from the Government of Indonesia.
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    Indonesia : Accounting and Auditing
    (Washington, DC, 2011-04) World Bank
    This report is part of a joint initiative of the World Bank and IMF to prepare Reports on the Observance of Standards and Codes (ROSC). The ROSC Accounting and Auditing review for Indonesia mainly focuses on the strengths and weaknesses of the accounting and auditing environment that influences the quality of corporate financial reporting. It involves both a review of mandatory requirements and actual practices. The reference points of international standards used in this report are International Financial Reporting Standards (IFRS) International Standards on Auditing (ISA) and international experience and good practice in the field of accounting and auditing regulation. The methodology used to conduct the analytical work for preparing this report includes application of the ROSC Accounting and Auditing diagnostic review. Developed by the World Bank, the diagnostic template was complemented by a comprehensive due diligence exercise. The World Bank ROSC team met with key stakeholders involved in accounting and auditing and corporate reporting in Indonesia. Also, several discussion forums were held with groups of preparers and auditors of financial statements, investors, and financial analysts.
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    Republic of Indonesia : Accounting and Auditing
    (Washington, DC, 2005-06) World Bank
    The Government of Moldova's Economic Growth and Poverty Reduction Strategy Paper (EGPRSP) lays out an ambitious plan for sustaining growth and poverty reduction and reshaping the government to meet the needs of a market economy. The public expenditures envisaged under this ambitious plan, however, vastly exceed the domestic resources available to the Government. Additional foreign budgetary support may help alleviate some of that resource constraint. Recognizing that the share of tax revenues and expenditures to GDP in Moldova already greatly exceed comparable international levels, generating additional domestic tax resources risks crowding out the private sector and undermining growth prospects. This suggests that in order to finance higher order public expenditures priorities, the Government needs to create fiscal space from within the existing resource envelope. This will require inter and intra-sectoral reallocation of expenditures and an increase in the efficiency of public spending rather than increasing the relative size of government.