Mozambique Report on the Observance of Standards and Codes: Accounting and Auditing

Publication:
Mozambique Report on the Observance of Standards and Codes: Accounting and Auditing

dc.contributor.author	World Bank
dc.date.accessioned	2016-12-13T16:15:07Z
dc.date.available	2016-12-13T16:15:07Z
dc.date.issued	2008-06-16
dc.description.abstract	This report provides an assessment of the strengths and weaknesses of the existing financial reporting infrastructure that underpins financial accounting and auditing practices in Mozambique. The assessment focuses on six pillars of financial reporting infrastructure: statutory framework, professional education and training, accountancy profession, accounting standards, auditing standards, and monitoring and enforcement of the applicable standards. The main purpose of this assessment is to assist the development and implementation of a country action plan for strengthening institutional capacity with attendant effect on enhancing corporate financial reporting in Mozambique. All the corporate entities in Mozambique, including investments with foreign participation, are affected by a serious shortage of qualified accountants and trained accounting technicians. Best estimates are that there are less than 50 fully qualified accountants working in Mozambique (mostly in the Maputo area), and that of these only 2 are citizens of Mozambique. Most of the corporate financial statements in the country are therefore prepared by accounting technicians whose level of skill and training is variable. At one extreme, a limited number of accounting technicians have completed training, which has not prepared them nearly at the level of a qualified accountant; and at another extreme, many technicians have no formal training. Most of the financial statement audits in the country are primarily carried out by representatives of the 6 international networks. The lack of senior-level local staff within those networks is of concern particularly as regulators lack any capacity to monitor the quality of financial reporting.	en
dc.identifier	http://documents.worldbank.org/curated/en/231131480543149188/Mozambique-Report-on-the-Observance-of-Standards-and-Codes-ROSC-accounting-and-auditing
dc.identifier.doi	10.1596/25732
dc.identifier.uri	https://hdl.handle.net/10986/25732
dc.language	English
dc.language.iso	en_US
dc.publisher	World Bank, Washington, DC
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	international accounting standards
dc.subject	accounting
dc.subject	auditing
dc.subject	financial reporting
dc.title	Mozambique Report on the Observance of Standards and Codes	en
dc.title.subtitle	Accounting and Auditing	en
dc.type	Report	en
dc.type	Rapport	fr
dc.type	Informe	es
dspace.entity.type	Publication
okr.crossref.title	Mozambique Report on the Observance of Standards and Codes
okr.date.disclosure	2016-11-30
okr.date.doiregistration	2025-05-07T09:30:31.406334Z
okr.doctype	Economic & Sector Work
okr.doctype	Economic & Sector Work::Accounting and Auditing Assessment
okr.docurl	http://documents.worldbank.org/curated/en/231131480543149188/Mozambique-Report-on-the-Observance-of-Standards-and-Codes-ROSC-accounting-and-auditing
okr.guid	231131480543149188
okr.identifier.externaldocumentum	090224b084760ca5_1_0
okr.identifier.internaldocumentum	26986201
okr.identifier.report	110657
okr.imported	true
okr.language.supported	en
okr.pdfurl	http://documents.worldbank.org/curated/en/231131480543149188/pdf/110657-ROSC-PUBLIC-rosc-aa-mozambique-2008-jun.pdf	en
okr.region.administrative	Africa
okr.region.country	Mozambique
okr.topic	Governance::Governance and the Financial Sector
okr.topic	Private Sector Development::Corporate Data and Reporting
okr.topic	Finance and Financial Sector Development::Financial Regulation & Supervision
okr.unit	EFI Practice Group (ECREF)