Publication: FYR Macedonia: Report on the Observance of Standards and Codes on Accounting and Auditing, Update
Files in English
450 downloads
Date
2014-09
ISSN
Published
2014-09
Author(s)
World Bank
Abstract
This assessment of accounting and
auditing requirements and practices in Former Yugoslav
Republic (FYR) Macedonia is part of a joint initiative
implemented by the World Bank and the International Monetary
Fund to prepare reports on the observance of standards and
codes (ROSC). The assessment focuses on the strengths and
weaknesses of the accounting and auditing (A and A)
environment that influences the quality of corporate
financial reporting, and includes a review of both statutory
requirements and actual practice. The assessment also
considers the extent of compliance with European Union (EU)
requirements under the acquis communautaire. The strategic
objective of this report is to support government efforts to
improve the business climate in FYR Macedonia, and achieve
the country s overarching goal of EU integration. The three
essential pillars of institutional infrastructure are: (i)
adequate and appropriate legal requirements, (ii) capacity
sufficient to implement those requirements, and (iii)
effective enforcement mechanisms. This report updates the
first ROSC A and A prepared in 2003. This report provides
policy recommendations to improve financial transparency in
the domestic corporate sector and to strengthen accounting
and audit practices in line with international benchmarks
and EU Directives.
Link to Data Set
Citation
“World Bank. 2014. FYR Macedonia: Report on the Observance of Standards and Codes on Accounting and Auditing, Update. Report on the Observance of Standards and
Codes (ROSC);. © http://hdl.handle.net/10986/21873 License: CC BY 3.0 IGO.”