Publication: Ecuador : Accounting and Auditing
Date
2004-03-18
ISSN
Published
2004-03-18
Author(s)
World Bank
Abstract
This report provides an assessment of
accounting, financial reporting and auditing practices
within the corporate sector in Ecuador, using International
Financial Reporting Standards (IFRS) and International
Standards on Auditing (ISA) as benchmarks and drawing on
international experience and best practices in that field.
The adoption of Ecuadorian Accounting Standards (Normas
Ecuatorianas de Contabilidad, or NEC) and Ecuadorian
Auditing Standards (Normas Ecuatorianas de Auditoría, or
NEA) in 1999-2000 represented a significant step forward for
the country in improving the quality of its standards.
Nonetheless, further efforts are needed to improve those
standards which leave out a number of critical areas. In
that regard, full adoption of IFRS and ISA by
public-interest entities is widely viewed among country
stakeholders as the best solution for Ecuador, and this
report endorses the accounting profession's recent
initiative for such adoption.
Link to Data Set
Citation
“World Bank. 2004. Ecuador : Accounting and Auditing. © Washington, DC. http://hdl.handle.net/10986/14550 License: CC BY 3.0 IGO.”