Publication: Argentina - Report on the Observance of Standards and Codes (ROSC) : Accounting and Auditing

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Date
2007-07
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Published
2007-07
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World Bank
Abstract
Strengthening corporate financial reporting is important for Argentina, as the country seeks to foster confidence in the local business community in order to stimulate investments, both local and foreign. In addition, strong corporate accounting practices enable local banks and financial institutions to monitor adequately their businesses risks, credit and otherwise, which is essential at a time when the Argentine banking sector emerges from the crisis triggered by the events of December 2001. Sound accounting and auditing is therefore essential to the stability of Argentina's banking sector. This report analyzes Argentina's corporate financial reporting and auditing practices with a view to supporting the Government's strategy to: (a) improve the investment climate for Argentine companies; (b) foster trade competitiveness by aligning the standards of reporting and governance with practices that are prevalent among the country's main trading partners; and (c) ensure greater transparency in both the private and public sectors. International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA) and good international practice, particularly among the other large countries in Latin America, have been used as benchmarks for this exercise. A study of corporate governance practices was conducted in parallel, which findings complement those of the Report on the Observance of Standards and Codes (ROSC) accounting and auditing.
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World Bank. 2007. Argentina - Report on the Observance of Standards and Codes (ROSC) : Accounting and Auditing. © Washington, DC. http://hdl.handle.net/10986/7907 License: CC BY 3.0 IGO.
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