Publication:
Republic of Trinidad and Tobago : Report on the Observance of Standard and Codes - Accounting and Auditing

Simple item page
dc.contributor.authorWorld Bank
dc.date.accessioned2013-09-25T20:14:10Z
dc.date.available2013-09-25T20:14:10Z
dc.date.issued2013-03-28
dc.description.abstractThe Report on the Observance of Standard and Codes (ROSC) Accounting and Auditing (A&A) focuses on the institutional framework underpinning national accounting and auditing practices, and their conformity with international standards and good practices. It evaluates the: a) adequacy of reporting requirements, b) capacity to implement applicable standards and codes, and c) the effectiveness of enforcement mechanisms for ensuring compliance with applicable standards and codes. This report provides an assessment of corporate sector accounting, financial reporting, and auditing practices in Trinidad and Tobago. It aims to assist the Government of Trinidad and Tobago's efforts to strengthen accounting and auditing practices and enhance financial transparency in the corporate sector, so as to support the Government's objective of private sector-led growth and deepened integration with the international economy. Trinidad and Tobago is a relatively small, open economy with a high per capita income and abundant natural resources. Key areas for strengthening Trinidad and Tobago's corporate financial reporting practices are: 1) establishing a culture of compliance; 2) improving monitoring and enforcement capabilities of various regulators; 3) establishing institutional mechanisms for regulating the accounting profession, including independent oversight; 4) enhancing technical capacities of Institute of Chartered Accountants of Trinidad and Tobago (ICATT); 5) improving professional accountancy education and training; and 6) improving the statutory framework for corporate financial reporting. The recommendations in this report are presented for the consideration of authorities in Trinidad and Tobago as suggested inputs for the development of a country action plan, geared toward strengthening the corporate financial reporting regime.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/03/18023611/trinidad-tobago-report-observance-standard-codes-rosc-accounting-auditing
dc.identifier.doi10.1596/15822
dc.identifier.urihttps://hdl.handle.net/10986/15822
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.subjectACCESS TO FINANCING
dc.subjectACCOUNT
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTANCY
dc.subjectACCOUNTANT
dc.subjectACCOUNTANTS
dc.subjectACCOUNTING
dc.subjectACCOUNTING SERVICES
dc.subjectACCOUNTS
dc.subjectACQUISITION
dc.subjectAFFILIATES
dc.subjectARBITRAGE
dc.subjectASSET MANAGEMENT
dc.subjectASSET MANAGEMENT COMPANIES
dc.subjectAUDIT COMMITTEE
dc.subjectAUDIT REPORTS
dc.subjectAUDITED FINANCIAL STATEMENTS
dc.subjectAUDITING
dc.subjectAUDITING PROFESSION
dc.subjectAUDITING STANDARDS
dc.subjectAUDITOR ROTATION
dc.subjectAUDITORS
dc.subjectAUDITS
dc.subjectBAILOUTS
dc.subjectBANK FINANCING
dc.subjectBANK INTEREST RATES
dc.subjectBANKING ASSETS
dc.subjectBANKING INDUSTRY
dc.subjectBANKING INSTITUTIONS
dc.subjectBANKING REGULATION
dc.subjectBANKING SECTOR
dc.subjectBANKING SUPERVISION
dc.subjectBROKERS
dc.subjectBUDGET DEFICIT
dc.subjectCAPACITY CONSTRAINTS
dc.subjectCASH FLOW
dc.subjectCENTRAL BANK
dc.subjectCERTIFIED PUBLIC ACCOUNTANTS
dc.subjectCHECKS
dc.subjectCOLLECTIVE INVESTMENT
dc.subjectCOLLECTIVE INVESTMENTS
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMERCIAL BANKS
dc.subjectCONSOLIDATED FINANCIAL STATEMENTS
dc.subjectCONSOLIDATED SUPERVISION
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATE LAWS
dc.subjectCREDIT UNION
dc.subjectCREDIT UNIONS
dc.subjectCURRENCY
dc.subjectDEBT
dc.subjectDEBT RATIO
dc.subjectDEPOSIT
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSIT LIABILITIES
dc.subjectDEPOSITORS
dc.subjectECONOMIC CONDITIONS
dc.subjectEMPLOYMENT
dc.subjectENFORCEMENT MECHANISMS
dc.subjectENTRY REQUIREMENTS
dc.subjectEXCHANGE COMMISSION
dc.subjectEXPENDITURE
dc.subjectEXTENSION OF CREDIT
dc.subjectEXTERNAL AUDITORS
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL REPORTING
dc.subjectFINANCIAL REPORTING STANDARDS
dc.subjectFINANCIAL REPORTS
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SHOCK
dc.subjectFINANCIAL STATEMENTS
dc.subjectFINANCIAL SYSTEM
dc.subjectFISCAL POLICY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN INVESTMENT
dc.subjectGOOD PRACTICE
dc.subjectGOOD PRACTICES
dc.subjectGOVERNMENT INTERVENTIONS
dc.subjectGOVERNMENT REVENUES
dc.subjectGOVERNMENT SUPPORT
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHOLDING
dc.subjectHOLDINGS
dc.subjectHOUSING
dc.subjectINADEQUATE DISCLOSURE
dc.subjectINFLATION
dc.subjectINSTITUTIONAL CAPACITY
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE COMPANY
dc.subjectINSURANCE INDUSTRY
dc.subjectINSURANCE PREMIUMS
dc.subjectINTERNAL AUDIT
dc.subjectINTERNAL CONTROLS
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS COMMITTEE
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINVESTMENT BANK
dc.subjectINVESTMENT BANKS
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT DECISIONS
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL MECHANISMS
dc.subjectLEGISLATION
dc.subjectLEGISLATIVE FRAMEWORK
dc.subjectLENDING DECISIONS
dc.subjectLENDING INSTITUTIONS
dc.subjectLEVY
dc.subjectLIFE INSURANCE
dc.subjectLIFE INSURANCE COMPANIES
dc.subjectLIMITED LIABILITY
dc.subjectLIQUIDITY
dc.subjectLONG-TERM ASSETS
dc.subjectMARKET CAPITALIZATION
dc.subjectMERCHANT BANKS
dc.subjectMONETARY FUND
dc.subjectMONEY MARKET
dc.subjectMUTUAL FUNDS
dc.subjectNATURAL RESOURCES
dc.subjectNET ASSETS
dc.subjectNEW PRODUCTS
dc.subjectOLIGOPOLY
dc.subjectOPEN ECONOMY
dc.subjectPENALTIES
dc.subjectPENSION
dc.subjectPENSION FUNDS
dc.subjectPRIVATE INVESTMENT
dc.subjectPRUDENTIAL REQUIREMENTS
dc.subjectPUBLIC ACCOUNTANTS
dc.subjectPUBLIC ENTERPRISES
dc.subjectPUBLIC SERVICES
dc.subjectQUALITY ASSURANCE
dc.subjectQUALITY CONTROL
dc.subjectREAL ESTATE INVESTMENTS
dc.subjectREGULATORY AUTHORITY
dc.subjectREGULATORY CAPACITY
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY OVERSIGHT
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSECURITIES EXCHANGE
dc.subjectSECURITIES INDUSTRIES
dc.subjectSECURITIES INDUSTRY
dc.subjectSECURITIES REGULATION
dc.subjectSETTLEMENT
dc.subjectSHAREHOLDER
dc.subjectSHAREHOLDERS
dc.subjectSOLVENCY
dc.subjectSTATUTORY AUDITORS
dc.subjectSTATUTORY FUND
dc.subjectSTATUTORY REQUIREMENT
dc.subjectSTATUTORY REQUIREMENTS
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKET CAPITALIZATION
dc.subjectSUBSIDIARIES
dc.subjectSUBSIDIARY
dc.subjectSUPERVISORY AGENCIES
dc.subjectSUPERVISORY FRAMEWORK
dc.subjectTAX
dc.subjectTAXATION
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTRADING
dc.subjectTRANSPARENCY
dc.subjectTRANSPORT
dc.subjectTRUST FUNDS
dc.subjectTURNOVER
dc.subjectVALUATION
dc.titleRepublic of Trinidad and Tobago : Report on the Observance of Standard and Codes - Accounting and Auditingen
dspace.entity.typePublication
okr.crosscuttingsolutionareaPublic-Private Partnerships
okr.date.disclosure2013-07-19
okr.date.doiregistration2025-05-07T12:44:36.371203Z
okr.doctypeEconomic & Sector Work::Accounting and Auditing Assessment (ROSC)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2013/03/18023611/trinidad-tobago-report-observance-standard-codes-rosc-accounting-auditing
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid488561468110648378
okr.identifier.externaldocumentum000356161_20130719112531
okr.identifier.internaldocumentum18023611
okr.identifier.reportACS3213
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/07/19/000356161_20130719112531/Rendered/PDF/ACS32130ESW0P100Box377382B00PUBLIC0.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryTrinidad and Tobago
okr.sectorFinance :: General finance sector
okr.themeRule of law :: Legal institutions for a market economy
okr.themeFinancial and private sector development :: Standards and financial reporting
okr.themeTrade and integration :: International financial architecture
okr.themeHuman development :: Other human development
okr.topicPrivate Sector Development::Competitiveness and Competition Policy
okr.topicPrivate Sector Development::Business Environment
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Business in Development
okr.unitFinancial Management (LCSFM)
okr.volume1 of 1
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
ACS32130ESW0P100Box377382B00PUBLIC0.pdf
Size:
539.58 KB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
ACS32130ESW0P100Box377382B00PUBLIC0.txt
Size:
144.64 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Accounting and Auditing Assessment