Publication:
Republic of Uganda : Accounting and Auditing

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dc.contributor.authorWorld Bank
dc.date.accessioned2012-06-19T17:08:01Z
dc.date.available2012-06-19T17:08:01Z
dc.date.issued2005-02
dc.description.abstractThis report provides an assessment of accounting and auditing practices within the context of the Uganda institutional framework, to ensure the quality of corporate financial reporting. The accountancy profession in Uganda is young, but growing rapidly. Accounting and auditing practices in Uganda suffer from institutional weaknesses in regulation, compliance, and enforcement of standards and rules. Various weaknesses were identified in the laws and regulations governing financial reporting. Adopting International Accounting Standards (IAS) and International Standards on Auditing (ISA) in 1998 was a positive development. However, full compliance with IAS (and subsequently International Financial Reporting Standards) is not yet readily achieved, and there is inadequate adherence to auditing standards and professional ethics. Apart from the financial institutions and listed companies, monitoring and enforcement mechanisms are ineffective. These factors, as well as inadequate accounting education at university level, lack of learning materials on the international standards, and a lack of monitored and controlled practical training, have contributed to weaknesses in the financial reporting and auditing regime. The policy recommendations in this report focus on improving the statutory framework, strengthening enforcement mechanisms, upgrading professional education and training, and enhancing capacity of regulatory and professional bodies. A major recommendation is the establishment of an independent oversight body. The oversight body will be responsible for adoption, monitoring, and enforcement of IFRS/IAS-based and ISA-based accounting and auditing practices of public interest entities.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/02/6591289/uganda-report-observance-standards-codes-rosc-accounting-auditing
dc.identifier.doi10.1596/8436
dc.identifier.urihttps://hdl.handle.net/10986/8436
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.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectACCOUNTING PRACTICES
dc.subjectACCOUNTING STANDARDS
dc.subjectACCOUNTING TREATMENT
dc.subjectADEQUATE DISCLOSURE
dc.subjectAFFILIATES
dc.subjectAUDITED FINANCIAL STATEMENTS
dc.subjectAUDITING
dc.subjectAUDITORS
dc.subjectAUDITS
dc.subjectBANK SUPERVISION
dc.subjectBANKING SYSTEM
dc.subjectBANKS
dc.subjectCAPITAL MARKETS
dc.subjectCAPITALIZATION
dc.subjectCOMMERCIAL BANKS
dc.subjectCONSOLIDATED FINANCIAL STATEMENTS
dc.subjectCORPORATE GOVERNANCE
dc.subjectDEVELOPMENT BANKS
dc.subjectECONOMIC STABILITY
dc.subjectEXTERNAL AUDITORS
dc.subjectFACTORING
dc.subjectFINANCIAL ACCOUNTABILITY
dc.subjectFINANCIAL ACCOUNTING
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL REPORTING
dc.subjectFINANCIAL REPORTING STANDARDS
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SYSTEMS
dc.subjectGAAP
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectINFLATION
dc.subjectINSIDER LENDING
dc.subjectINSURANCE
dc.subjectINSURANCE PREMIUMS
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectINTERNATIONAL FINANCIAL STABILITY
dc.subjectLAWS
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGISLATION
dc.subjectLITIGATION
dc.subjectPENALTIES
dc.subjectPROVISIONS
dc.subjectPUBLIC
dc.subjectPUBLIC COMPANIES
dc.subjectPUBLIC ENTERPRISES
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC GOODS
dc.subjectPUBLIC SECTOR
dc.subjectREVENUE COLLECTION
dc.subjectSALES TAXES
dc.subjectSECURITIES
dc.subjectSTOCK EXCHANGES
dc.subjectSUBSIDIARIES
dc.subjectSUBSIDIARY
dc.subjectTAX
dc.subjectTAX COLLECTION
dc.subjectTAX LAWS
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.titleRepublic of Uganda : Accounting and Auditingen
dspace.entity.typePublication
okr.crosscuttingsolutionareaPublic-Private Partnerships
okr.date.doiregistration2025-05-07T12:40:51.927072Z
okr.doctypeEconomic & Sector Work::Accounting and Auditing Assessment (ROSC)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2005/02/6591289/uganda-report-observance-standards-codes-rosc-accounting-auditing
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid808581468346736856
okr.identifier.externaldocumentum000012009_20060210133946
okr.identifier.internaldocumentum6591289
okr.identifier.report35189
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/02/10/000012009_20060210133946/Rendered/PDF/351890UG0REV0Accounting0rosc1aa1uga.pdfen
okr.region.administrativeAfrica
okr.region.countryUganda
okr.region.geographicalEast Africa
okr.region.geographicalSub-Saharan Africa
okr.sectorFinance :: General finance sector
okr.topicPrivate Sector Development::Business Environment
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicPrivate Sector Development::Business in Development
okr.topicPublic Sector Economics and Finance
okr.topicPublic Sector Development
okr.unitAFT: QK Financial Management (AFTFM)
okr.volume1 of 1
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