Publication: Republic of Kazakhstan : Accounting and Auditing
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Date
2007-05
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2007-05
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This report on the report on the observance of standards and codes (ROSC) in Kazakhstan provides an assessment of accounting, financial reporting, and auditing requirements and practices within the enterprise and financial sectors in Kazakhstan. The report uses International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA), and draws on international experience and good practices in the field of accounting and audit regulation, including in European Union (EU) Member States, to assess the framework for financial reporting and to make policy recommendations. The policy recommendations aim to help the Kazakhstan Government to support the country's integration into the global economy, in particular through strengthening the corporate sector's accounting, financial reporting and auditing practices. The financial sector, which is dominated by private commercial banks, has been one of the fastest growing sectors in Kazakhstan. However, while lending to the private sector has increased, credit risk analysis remains underdeveloped and there are problems with assessing the underlying portfolios owing to a significant lack of transparency regarding related parties and ultimate economic beneficiaries. The role of the non-banking financial sector is still limited but growing. This report shows much remains to be done if Kazakhstan wishes to raise the quality of accounting and auditing practices to a level in line with more-developed economies.
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“World Bank. 2007. Republic of Kazakhstan : Accounting and Auditing. © World Bank. http://hdl.handle.net/10986/7841 License: CC BY 3.0 IGO.”
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Publication Kosovo : Report on the Observance of Standards and Codes on Accounting and Auditing--Update(Washington, DC, 2012-06)This report is an update of the 2006 Report on the Observance of Standards and Codes (ROSC) on Accounting and Auditing (A&A) in the Republic of Kosovo (Kosovo). The main objective of the 2006 ROSC was to assist the then-existing Kosovo Provisional Institutions of Self-Government in strengthening A&A practices, in order to support sustained economic growth and improve the competitiveness of local enterprises. For this update, a particular focus was placed on analyzing significant changes in (a) the statutory framework for A&A standards and practices; (b) the A&A profession; (c) the quality of accounting education at the tertiary level; (d) the enforcement of A&A requirements both within the profession and by financial sector regulators; and (e) financial reporting standards in the banking sector. 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