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FYR Macedonia: Report on the Observance of Standards and Codes on Accounting and Auditing, Update

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dc.contributor.authorWorld Bank
dc.date.accessioned2015-05-12T15:59:31Z
dc.date.available2015-05-12T15:59:31Z
dc.date.issued2014-09
dc.description.abstractThis 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.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/09/24381413/former-yugoslav-republic-fyr-macedonia-report-observance-standards-codes-accounting-auditing-update
dc.identifier.doi10.1596/21873
dc.identifier.urihttps://hdl.handle.net/10986/21873
dc.languageEnglish
dc.language.isoen_US
dc.relation.ispartofseriesReport on the Observance of Standards and Codes (ROSC);
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTANCY
dc.subjectACCOUNTANT
dc.subjectACCOUNTANTS
dc.subjectACCOUNTING
dc.subjectACCOUNTING POLICIES
dc.subjectACCOUNTING REFORM
dc.subjectACCOUNTING SERVICES
dc.subjectACCOUNTING STANDARDS
dc.subjectACCOUNTS
dc.subjectAUDIT COMMITTEE
dc.subjectAUDIT COMMITTEES
dc.subjectAUDIT REPORTS
dc.subjectAUDIT STANDARDS
dc.subjectAUDITED FINANCIAL STATEMENTS
dc.subjectAUDITING
dc.subjectAUDITING PROFESSION
dc.subjectAUDITING STANDARDS
dc.subjectAUDITORS
dc.subjectAUDITS
dc.subjectBALANCE SHEET
dc.subjectBANK FINANCING
dc.subjectBANK LOANS
dc.subjectBANKING ASSETS
dc.subjectBANKING LAW
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTOR ASSETS
dc.subjectBANKING SYSTEM
dc.subjectBARRIERS TO ENTRY
dc.subjectBONDS
dc.subjectBROKERAGE
dc.subjectBUSINESS ADMINISTRATION
dc.subjectBUSINESS COMMUNITIES
dc.subjectBUSINESS LAW
dc.subjectCAPACITY BUILDING
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKETS
dc.subjectCASH FLOW
dc.subjectCASH FLOWS
dc.subjectCENTRAL DEPOSITORY
dc.subjectCOLLATERAL
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPANY LAW
dc.subjectCOMPLIANCE COSTS
dc.subjectCOMPLIANCE GAP
dc.subjectCONSOLIDATED FINANCIAL STATEMENTS
dc.subjectCONSUMER PROTECTION
dc.subjectCORPORATE GOVERNANCE
dc.subjectCOST OF CAPITAL
dc.subjectCREDIT CARDS
dc.subjectCREDIT INSTITUTIONS
dc.subjectCREDIT LINES
dc.subjectCURRENCY
dc.subjectCURRENT LIABILITY
dc.subjectDEPOSIT
dc.subjectDEPOSITS
dc.subjectDISCLOSURE REQUIREMENTS
dc.subjectDOMESTIC MARKET
dc.subjectECONOMIC DEVELOPMENT
dc.subjectEMPLOYMENT
dc.subjectENFORCEMENT MECHANISMS
dc.subjectENFORCEMENT POWER
dc.subjectEQUIPMENT
dc.subjectEXCHANGE COMMISSION
dc.subjectFACTORING
dc.subjectFAIR VALUE
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL REPORTING
dc.subjectFINANCIAL REPORTING STANDARDS
dc.subjectFINANCIAL REPORTS
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL STATEMENT
dc.subjectFINANCIAL STATEMENTS
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN DIRECT INVESTMENTS
dc.subjectFOREIGN INTERESTS
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTMENTS
dc.subjectFOREIGN INVESTORS
dc.subjectGOOD PRACTICE
dc.subjectGOOD PRACTICES
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT SECURITIES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHOLDING
dc.subjectHUMAN RESOURCES
dc.subjectINFORMATION SYSTEM
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINITIAL PUBLIC OFFERING
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE COMPANY
dc.subjectINTERNAL AUDIT
dc.subjectINTERNAL AUDITING
dc.subjectINTERNAL CONTROLS
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL STANDARD
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT FUND
dc.subjectINVESTMENT FUNDS
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectINVESTOR CONFIDENCE
dc.subjectIPO
dc.subjectJOINT STOCK COMPANIES
dc.subjectJOINT-STOCK COMPANY
dc.subjectLARGE CITIES
dc.subjectLAWS
dc.subjectLEGISLATION
dc.subjectLENDER
dc.subjectLIMITED LIABILITY
dc.subjectLLC
dc.subjectLOAN
dc.subjectLOCAL ENTERPRISES
dc.subjectMACROECONOMIC POLICIES
dc.subjectMANDATES
dc.subjectMARKET CAPITALIZATION
dc.subjectMARKET ECONOMY
dc.subjectMICRO ENTERPRISES
dc.subjectMICROENTERPRISES
dc.subjectMONETARY FUND
dc.subjectNON-PERFORMING LOANS
dc.subjectOPERATING LEASES
dc.subjectOPERATING LOSSES
dc.subjectPENSION
dc.subjectPENSION FUNDS
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO INVESTMENT
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectPRUDENTIAL REQUIREMENTS
dc.subjectPUBLIC ACCOUNTING
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SERVICES
dc.subjectQUALITY ASSURANCE
dc.subjectQUALITY CONTROL
dc.subjectREGULATORY FRAMEWORK
dc.subjectRETURN
dc.subjectRISK MANAGEMENT
dc.subjectRULE OF LAW
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSECURITIES MARKET
dc.subjectSELF-REGULATION
dc.subjectSHAREHOLDER
dc.subjectSHAREHOLDERS
dc.subjectSHORT-TERM LIQUIDITY
dc.subjectSTATUTORY AUDITORS
dc.subjectSTATUTORY REQUIREMENTS
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK EXCHANGES
dc.subjectSTOCK MARKET
dc.subjectSUBSIDIARY
dc.subjectSUPERVISORY AGENCY
dc.subjectSUPERVISORY AUTHORITY
dc.subjectSUPERVISORY BOARD
dc.subjectTAX
dc.subjectTAX RATE
dc.subjectTAXATION
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTRADING
dc.subjectTRANSPARENCY
dc.subjectTURNOVER
dc.subjectVALUATION
dc.titleFYR Macedoniaen
dc.title.subtitleReport on the Observance of Standards and Codes on Accounting and Auditing, Updateen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2015-04-17
okr.date.doiregistration2025-05-07T11:08:14.273258Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Accounting and Auditing Assessment (ROSC)
okr.docurlhttp://documents.worldbank.org/curated/en/2014/09/24381413/former-yugoslav-republic-fyr-macedonia-report-observance-standards-codes-accounting-auditing-update
okr.globalpracticeFinance and Markets
okr.guid110691468046854315
okr.identifier.externaldocumentum000442464_20150417101253
okr.identifier.internaldocumentum24381413
okr.identifier.report95801
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/04/17/090224b082df9349/_/Rendered/PDF/958010ROSC0P120BLIC00Box391428B0ACS.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryMacedonia, former Yugoslav Republic of
okr.region.countryNorth Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
okr.sectorFinance
okr.themePublic sector governance :: Other accountability/anti-corruption
okr.themeFinancial and private sector development :: Corporate governance
okr.themeFinancial and private sector development :: Other financial and private sector development
okr.topicPrivate Sector Development::Business Environment
okr.topicBanks Banking Reform
okr.topicPrivate Sector Development::Competitiveness and Competition Policy
okr.topicPrivate Sector Development::Business in Development
okr.topicFinance and Financial Sector Development::Debt Markets
okr.unitECCAT - WB Office: Vienna (ECCAT)
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