Publication:
The Philippines : Accounting and Auditing

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-07-23T16:18:23Z
dc.date.available2013-07-23T16:18:23Z
dc.date.issued2001-12-17
dc.description.abstractHistorically, accounting and auditing in the Philippines has been heavily influenced by practices of the United States. More recently, efforts have been made to adapt International Accounting Standards and International Standards on Auditing to national circumstances. However, there are gaps between the current international standards and the applicable Philippine standards, and in compliance of Philippine standards. Established in 1929, the Philippine Institute of Certified Public Accountants (PICPA) is one of the oldest professional accountancy bodies in Asia. The passage of the Accountancy Act 1923 led to the creation of the Board of Accountancy, with authority to issue certificates for certified public accountants. The PICPA presently lacks effective mechanisms either for monitoring members' professional activities or for taking appropriate actions against errant members. There are gaps in the capacity of the SEC and the Central Bank to monitor and enforce rules and regulations with reference to accounting, auditing, and financial reporting by the enterprises under their regulatory authority. The Board of Accountancy, under the Professional Regulation Commission, has the authority and responsibility to regulate the accounting profession, but is handicapped by lack of resources. Policy recommendations to improve accounting and auditing practices in the Philippines were discussed and agreed by a group of national stakeholders at the conclusion of the accounting and auditing review exercise conducted in May - June 2001, under the joint World Bank-IMF Reports on the Observance of Standards and Codes (ROSC) initiative.en
dc.identifierhttp://documents.worldbank.org/curated/en/2001/12/7072333/philippines-report-observance-standards-codes-rosc-accounting-auditing
dc.identifier.doi10.1596/14481
dc.identifier.urihttps://hdl.handle.net/10986/14481
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTANCY
dc.subjectACCOUNTING
dc.subjectACCOUNTING CURRICULUM
dc.subjectACCOUNTING FIRMS
dc.subjectACCOUNTING POLICIES
dc.subjectACCOUNTING PRACTICES
dc.subjectACCOUNTING PRINCIPLES
dc.subjectACCOUNTING STANDARDS
dc.subjectAUDIT EVIDENCE
dc.subjectAUDITED FINANCIAL STATEMENTS
dc.subjectAUDITING
dc.subjectAUDITING STANDARDS
dc.subjectAUDITORS
dc.subjectAUDITS
dc.subjectBUSINESS COMBINATIONS
dc.subjectCERTIFIED PUBLIC ACCOUNTANTS
dc.subjectCORPORATE GOVERNANCE
dc.subjectEXPENDITURE
dc.subjectEXTERNAL AUDITORS
dc.subjectEXTERNAL AUDITS
dc.subjectFINANCIAL ACCOUNTING
dc.subjectFINANCIAL ACCOUNTING STANDARDS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL REPORTING
dc.subjectGAAP
dc.subjectGENERALLY ACCEPTED ACCOUNTING PRINCIPLES
dc.subjectINTERNAL AUDITING
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectPROVISIONING
dc.subjectPROVISIONS
dc.subjectPUBLIC
dc.subjectPUBLIC ACCOUNTING
dc.subjectPUBLIC COMPANIES
dc.subjectPUBLIC OFFERING
dc.subjectQUALITY ASSURANCE
dc.subjectQUALITY CONTROL
dc.subjectSALES
dc.subjectTAX
dc.subjectTRANSPARENCY
dc.titleThe Philippines : Accounting and Auditingen
dspace.entity.typePublication
okr.crosscuttingsolutionareaPublic-Private Partnerships
okr.date.disclosure2006-09-21
okr.date.doiregistration2025-05-07T09:42:08.984086Z
okr.doctypeEconomic & Sector Work::Pre-2003 Economic or Sector Report
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2001/12/7072333/philippines-report-observance-standards-codes-rosc-accounting-auditing
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid487601468095652768
okr.identifier.externaldocumentum000160016_20060921181339
okr.identifier.internaldocumentum7072333
okr.identifier.report35172
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/09/21/000160016_20060921181339/Rendered/PDF/351720PH0Accounting0rosc12101.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryPhilippines
okr.topicPrivate Sector Development::Business Environment
okr.topicFinance and Financial Sector Development::Rural Finance
okr.topicPrivate Sector Development::Competitiveness and Competition Policy
okr.topicPrivate Sector Development::Business in Development
okr.topicPublic Sector Economics and Finance
okr.topicPublic Sector Development
okr.unitOffice of the Regional Vice Pres (EAPVP)
okr.volume1 of 1
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