Publication:
Sierra Leone : Accounting and Auditing

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dc.contributor.authorWorld Bank
dc.date.accessioned2012-06-15T15:29:59Z
dc.date.available2012-06-15T15:29:59Z
dc.date.issued2006-05
dc.description.abstractThis report provides an assessment of accounting and auditing practices in Sierra Leone with reference to the International Financial Reporting Standards (IFRS) requirements issued by the International Accounting Standards Board, and International Standards on Auditing (ISA) issued by the International Federation of Accountants. This assessment is positioned within the broader context of the country's institutional framework and capacity needed to ensure the quality of corporate financial reporting. Efforts are necessary for strengthening the capacity of the regulators and ensuring compliance with applicable standards and codes. The accounting and auditing practices in Sierra Leone need to develop in line with a growing economy, as well as with international best practice. With the exception of banks and similar financial institutions, there is no legal mandate for other corporate entities to follow IFRS in preparation of financial statements and ISA in conducting audits. There are varying compliance gaps in both accounting and auditing practices. These gaps are likely to stem from lack of clearer understanding of professional accountants, inadequate technical capacities of the regulators, absence of implementation guidance, lack of independent oversight of the auditing profession, and shortcomings in professional education and training. Sierra Leone's accounting profession is dominated by members of the Association of Chartered Certified Accountants of the United Kingdom.en
dc.identifierhttp://documents.worldbank.org/curated/en/2006/05/10038416/sierra-leone-report-observance-standards-codes-rosc-accounting-auditing
dc.identifier.doi10.1596/8147
dc.identifier.urihttps://hdl.handle.net/10986/8147
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.subjectACCOUNT
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTANCY
dc.subjectACCOUNTANCY FIRMS
dc.subjectACCOUNTANTS
dc.subjectACCOUNTING
dc.subjectACCOUNTING CURRICULA
dc.subjectACCOUNTING FIRM
dc.subjectACCOUNTING FIRMS
dc.subjectACCOUNTING POLICIES
dc.subjectACCOUNTING PRINCIPLES
dc.subjectACCOUNTING STANDARDS
dc.subjectACCOUNTING TREATMENT
dc.subjectACCOUNTS
dc.subjectADMINISTRATIVE SUPPORT
dc.subjectAFFILIATES
dc.subjectANNUAL RETURNS
dc.subjectAUDIT ENGAGEMENTS
dc.subjectAUDIT EVIDENCE
dc.subjectAUDIT REPORTS
dc.subjectAUDIT RISK
dc.subjectAUDITED FINANCIAL STATEMENTS
dc.subjectAUDITING
dc.subjectAUDITING PROCEDURES
dc.subjectAUDITING PROFESSION
dc.subjectAUDITING STANDARDS
dc.subjectAUDITORS
dc.subjectAUDITS
dc.subjectAVERAGE GROWTH
dc.subjectBANK LOAN
dc.subjectBANKING SECTOR
dc.subjectBANKING SUPERVISION
dc.subjectBANKS
dc.subjectBENEFICIARY
dc.subjectBEST PRACTICE
dc.subjectBEST PRACTICES
dc.subjectBUSINESS ETHICS
dc.subjectBUSINESS MANAGEMENT
dc.subjectCALCULATION
dc.subjectCAPITAL MARKET
dc.subjectCASH FLOW
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMUNITY BANK
dc.subjectCOMMUNITY BANKS
dc.subjectCONSOLIDATED FINANCIAL STATEMENTS
dc.subjectCONSOLIDATION
dc.subjectCONTINGENCIES
dc.subjectCONTRIBUTIONS
dc.subjectCREDIT RISK
dc.subjectCURRICULUM
dc.subjectDEPOSITS
dc.subjectDEVELOPMENT BANK
dc.subjectDIRECT INVESTMENT
dc.subjectDISCLOSURE REQUIREMENTS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectEMPLOYEE BENEFITS
dc.subjectEMPLOYMENT
dc.subjectEXTERNAL AUDITORS
dc.subjectFIDUCIARY RESPONSIBILITY
dc.subjectFINANCE COMPANIES
dc.subjectFINANCE COMPANY
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL REPORTING
dc.subjectFINANCIAL REPORTING STANDARDS
dc.subjectFINANCIAL RESOURCES
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STATEMENTS
dc.subjectFINANCIAL SYSTEM
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN EXCHANGE
dc.subjectFORMAL EDUCATION
dc.subjectFUTURE CASH FLOWS
dc.subjectGOOD PRACTICES
dc.subjectHOME FINANCE
dc.subjectHOUSING
dc.subjectINADEQUATE DISCLOSURE
dc.subjectINCOME
dc.subjectINCOME TAXES
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINTEREST RATE
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS COMMITTEE
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT DECISION
dc.subjectKNOWLEDGE GAP
dc.subjectLACK OF KNOWLEDGE
dc.subjectLARGE ENTERPRISE
dc.subjectLARGE ENTERPRISES
dc.subjectLAWS
dc.subjectLEGAL PROVISIONS
dc.subjectLEGAL RECOURSE
dc.subjectLEGISLATION
dc.subjectLIABILITY
dc.subjectLOAN
dc.subjectMANDATES
dc.subjectMARKET ECONOMY
dc.subjectMEDIUM ENTERPRISE
dc.subjectMEDIUM ENTERPRISES
dc.subjectNONBANK FINANCIAL INSTITUTIONS
dc.subjectNONPERFORMING LOANS
dc.subjectOFF BALANCE SHEET
dc.subjectOFF BALANCE SHEET ITEMS
dc.subjectOFFSITE SUPERVISION
dc.subjectPENALTIES
dc.subjectPRESENT VALUE
dc.subjectPRIVATIZATION
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectQUALITY ASSURANCE
dc.subjectQUALITY CONTROL
dc.subjectREGULATORY FRAMEWORK
dc.subjectRESPONSIBILITIES
dc.subjectRISK EVALUATION
dc.subjectSALES
dc.subjectSAVINGS
dc.subjectSTAKEHOLDERS
dc.subjectSTATUTORY AUDITORS
dc.subjectSTOCK EXCHANGE
dc.subjectSUBSIDIARIES
dc.subjectSUBSIDIARY
dc.subjectTAXABLE INCOME
dc.subjectTAXATION
dc.subjectTERMINATION
dc.subjectTRAINING PROGRAM
dc.subjectTRAINING PROGRAMS
dc.subjectVALUABLE
dc.titleSierra Leone : Accounting and Auditingen
dspace.entity.typePublication
okr.crosscuttingsolutionareaPublic-Private Partnerships
okr.date.doiregistration2025-05-07T08:50:42.728797Z
okr.doctypeEconomic & Sector Work::Accounting and Auditing Assessment (ROSC)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2006/05/10038416/sierra-leone-report-observance-standards-codes-rosc-accounting-auditing
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid347301468300849338
okr.identifier.externaldocumentum000333037_20081119231244
okr.identifier.internaldocumentum10038416
okr.identifier.report46537
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/11/19/000333037_20081119231244/Rendered/PDF/465370ESW0P0981ra0Leone0rosc1aa1sle.pdfen
okr.region.administrativeAfrica
okr.region.countrySierra Leone
okr.sectorFinance :: General finance sector
okr.themeLegal institutions for a market economy
okr.themeFinancial and private sector development
okr.topicPrivate Sector Development::Business Environment
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Competitiveness and Competition Policy
okr.topicPrivate Sector Development::Business in Development
okr.topicFinance and Financial Sector Development
okr.unitAFT: QK Financial Management (AFTFM)
okr.volume1 of 1
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