Publication:
Bangladesh : Accounting and Auditing

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-06-11T22:10:27Z
dc.date.available2013-06-11T22:10:27Z
dc.date.issued2003-05-16
dc.description.abstractThis report provides an assessment of accounting and auditing practices within the broader context of the Bangladesh institutional framework and capacity needed to ensure the quality of corporate financial reporting. The accounting and auditing practices in Bangladesh suffer from institutional weaknesses in regulation, compliance, and enforcement of standards and rules. The preparation of financial statements and conduct of audits, in many cases, are not consistent with internationally acceptable standards and practices. Better-qualified graduates generally do not join the accounting profession because it is not viewed as a stepping-stone to a rewarding and prestigious career. The out-of-date legal requirements, widespread noncompliance with accounting and auditing standards, ineffective enforcement mechanism, poor quality accounting education and training, and inadequate adherence to professional ethics have contributed to the weakness of the financial reporting regime. The policy recommendations provided in this report focus on improving statutory framework, strengthening enforcement mechanisms, upgrading professional education and training, and enhancing capacity of regulatory and professional bodies. A major recommendation is that an independent oversight body-Financial Reporting Council-should be established. The Financial Reporting Council will be responsible for adopting, monitoring, and enforcing international accounting and auditing standards for financial reporting by the public-interest entities. In addition, arrangements will need to be made to develop a simplified financial reporting framework for small- and medium-size enterprises.en
dc.identifierhttp://documents.worldbank.org/curated/en/2003/05/6561790/bangladesh-report-observance-standards-codes-rosc-accounting-auditing
dc.identifier.doi10.1596/13854
dc.identifier.urihttps://hdl.handle.net/10986/13854
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 PERIOD
dc.subjectACCOUNTING PRACTICES
dc.subjectACCOUNTING PRINCIPLES
dc.subjectACCOUNTING STANDARDS
dc.subjectAUDITED FINANCIAL STATEMENTS
dc.subjectAUDITING
dc.subjectAUDITORS
dc.subjectAUDITS
dc.subjectBALANCE SHEET
dc.subjectBANKS
dc.subjectCAPITALIZATION
dc.subjectCONSOLIDATED FINANCIAL STATEMENTS
dc.subjectCONSOLIDATION
dc.subjectEARNINGS PER SHARE
dc.subjectEMPLOYMENT
dc.subjectEXCHANGE RATES
dc.subjectEXTERNAL AUDITORS
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL REPORTING
dc.subjectFINANCIAL REPORTING STANDARDS
dc.subjectFOREIGN EXCHANGE
dc.subjectGENERALLY ACCEPTED ACCOUNTING PRINCIPLES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHOLDING COMPANIES
dc.subjectINSURANCE
dc.subjectINSURANCE INDUSTRY
dc.subjectINSURANCE POLICIES
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectINVESTMENT BANKERS
dc.subjectMANAGEMENT ACCOUNTING
dc.subjectOPERATING EXPENSES
dc.subjectOPERATING LEASES
dc.subjectPROVISIONS
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectPRUDENTIAL REQUIREMENTS
dc.subjectPUBLIC
dc.subjectPUBLIC SECTOR
dc.subjectREGULATORY REPORTS
dc.subjectRISK MANAGEMENT
dc.subjectSECURITIES
dc.subjectSOUTH ASIAN
dc.subjectSUBSIDIARIES
dc.subjectSUBSIDIARY
dc.subjectTAX
dc.subjectTAX LAWS
dc.subjectTAXATION
dc.subjectTRANSPARENCY
dc.titleBangladesh : Accounting and Auditingen
dspace.entity.typePublication
okr.crosscuttingsolutionareaPublic-Private Partnerships
okr.date.disclosure2006-01-27
okr.date.doiregistration2025-05-07T10:44:52.693103Z
okr.doctypeEconomic & Sector Work::Accounting and Auditing Assessment (ROSC)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2003/05/6561790/bangladesh-report-observance-standards-codes-rosc-accounting-auditing
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid525841468199791766
okr.identifier.externaldocumentum000160016_20060127141409
okr.identifier.internaldocumentum6561790
okr.identifier.report35016
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/01/27/000160016_20060127141409/Rendered/PDF/350160BD0Accounting0rosc1aa1bgd.pdfen
okr.region.administrativeSouth Asia
okr.region.countryBangladesh
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.unitFinancial Management Unit (SARFM)
okr.volume1 of 1
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