Accounting and Auditing Assessment

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South Africa Report on the Observance of Standards and Codes: Accounting and Auditing

(World Bank, Washington, DC, 2013-06) World Bank

The main purpose of the South Africa Report on the Observance of Standards and Codes, Accounting and Auditing (ROSC A&A) is to determine reforms that will continue to improve the quality of financial reporting in South Africa. The review, requested by the Minister of Finance, was conducted to assess the status of implementation of policy recommendations in the prior 2003 ROSC A&A report, assess the institutional framework underpinning accounting and auditing practices in comparison with international standards and good practices in order to identify any emerging issues that require strengthening, share good practices adopted in the country, and propose policy recommendations addressing areas that require improvements. Implementation of the policy recommendations will further enhance the quality of financial reporting in the country, a key pillar that contributes to enhancing the business environment and advancement of governance and financial accountability in both the private and public sector entities. The review focuses on private sector. Financial reporting in public sector is assessed under public expenditure and financial accountability framework.
Swaziland Report on the Observance of Standards and Codes: Accounting and Auditing

(World Bank, Washington, DC, 2012-11) World Bank

The Report on Observance of Standards and Codes, Accounting and Auditing (ROSC A&A), requested by the Government of the Kingdom of Swaziland, contributes to development of a comprehensive plan that will strengthen the institutional framework that underpins accounting and auditing practices in the country. ROSC A&A program is a part of the joint World Bank-International Monetary Fund (IMF) initiative on assisting member countries to strengthen their financial system by improving capacity to comply with important internationally recognized standards and codes. The initiative covers twelve areas that relate to: (a) policy transparency; (b) financial sector regulation and supervision, Financial Sector Assessment Program (FSAP); and (c) market integrity. ROSC A&A relate to market integrity and specifically reviews and makes recommendations for strengthening the framework for education and training for accountants, the capacity and services of a professional accountancy organization, regulatory framework governing accounting and auditing practices, the applicable accounting auditing and ethics standards and the extent of their implementation, and the regulatory institutions and mechanism for monitoring and enforcing compliance with the standards.