Publication:
Strengthening Financial Reporting Regimes and the Accountancy Profession and Practices in Selected Caribbean Countries

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2015-08-18T15:00:33Z
dc.date.available2015-08-18T15:00:33Z
dc.date.issued2015-06-26
dc.description.abstractThe main objectives of this report are to: (a) provide a synthesized analysis of financial reporting and auditing standards and practices across the countries in which the Institute of Chartered Accountants of the Caribbean (ICAC) is active and (b) provide a basis for recommendations to ICAC and respective national institutes for a regional strategy to enhance the accounting profession and the accounting and auditing practices in the public and private sectors. This report’s focus on reforms and identification of areas and means to strengthen the accounting profession have at their root the conviction that systemic enhancements to the standards and practices of the profession can materially improve the lives of the region’s populace, particularly its less prosperous citizens, through greater transparency, strengthened economic growth and its attendant employment and tax revenue prospects, and greater access to financing for and formalization of the region’s dominant sector-micro, small, and medium-sized enterprises (MSMEs). The report finds that a constraint limiting both investment across the region, particularly to MSMEs that characterize the respective national economies, and the efficient use of public resources is the accounting and auditing practices and the financial reporting regimes that prevail in both the public and private sectors. This finding emerges from: (i) a review of Reports on the Observance of Standards and Codes for Accounting and Auditing (ROSC AA) conducted by the World Bank for Jamaica, Trinidad and Tobago, Suriname, and the countries of the Organisation of Eastern Caribbean States, and (ii) Bank missions to those countries updating the ROSC findings as well as missions to countries that have not yet had ROSC AA reviews (during which the Bank team met the national accountancy body, regulators of entities that fall within the financial reporting chain, supreme audit institutions, central banks, and so forth so as to secure information that would typically be found in formal ROSC AA reports).en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/06/24738727/strengthening-financial-reporting-regimes-accountancy-profession-practices-selected-caribbean-countries
dc.identifier.doi10.1596/22469
dc.identifier.urihttps://hdl.handle.net/10986/22469
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS
dc.subjectACCOUNTING PRINCIPLES
dc.subjectGOOD PRACTICE
dc.subjectEMPLOYMENT
dc.subjectCAPITAL MARKETS
dc.subjectFINANCIAL SERVICES
dc.subjectREGULATORY FRAMEWORK
dc.subjectINTANGIBLE ASSETS
dc.subjectACCOUNTING
dc.subjectCASH ACCOUNTING
dc.subjectDEPOSITS
dc.subjectACCOUNTING PRACTICES
dc.subjectBUSINESS COMMUNITY
dc.subjectAUDIT OFFICES
dc.subjectAUDIT GUIDES
dc.subjectFINANCIAL MANAGEMENT
dc.subjectACCOUNTANCY FIRMS
dc.subjectGOOD PRACTICES
dc.subjectSALES
dc.subjectINTEREST
dc.subjectLAWS
dc.subjectINDUSTRY
dc.subjectINTERNAL AUDITS
dc.subjectQUALITY OF WORK
dc.subjectWATER SUPPLY
dc.subjectSERVICES
dc.subjectACCOUNTING FRAMEWORK
dc.subjectTAX COLLECTION
dc.subjectSELLING
dc.subjectRESERVE BANK OF INDIA
dc.subjectINTERNATIONAL ACCOUNTING STANDARDS COMMITTEE
dc.subjectFISCAL POLICY
dc.subjectIMAGE
dc.subjectCLEARINGHOUSE
dc.subjectFINANCIAL STATEMENTS
dc.subjectIMPACTS
dc.subjectDISTRIBUTION
dc.subjectGOVERNMENT ACCOUNTING
dc.subjectOWNERSHIP
dc.subjectASSET MANAGEMENT
dc.subjectPLANNING
dc.subjectQUALITY
dc.subjectBUDGETING
dc.subjectCENTRAL BANKS
dc.subjectREPORTING
dc.subjectUNAUDITED FINANCIAL STATEMENTS
dc.subjectAUDITS
dc.subjectSAFETY NETS
dc.subjectBUDGET
dc.subjectACCOUNTING REFORM
dc.subjectACCOUNTING REPORTS
dc.subjectSAVINGS
dc.subjectTECHNICAL ASSISTANCE
dc.subjectCREDIT UNIONS
dc.subjectACQUISITION
dc.subjectCONTRACT ENFORCEMENT
dc.subjectTRANSPORT
dc.subjectRESOURCE MOBILIZATION
dc.subjectACCOUNTING POLICIES
dc.subjectPUBLIC ACCOUNTANTS
dc.subjectCOLLECTIONS
dc.subjectTRANSFERS
dc.subjectPERFORMANCE ACCOUNTABILITY
dc.subjectCRITERIA
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectMARKETS
dc.subjectMARKETING
dc.subjectDEBT
dc.subjectFINANCIAL REPORTING
dc.subjectLEGISLATION
dc.subjectACCOUNTING FIRMS
dc.subjectLOANS
dc.subjectLABOR
dc.subjectENTERPRISES
dc.subjectNATURAL RESOURCES
dc.subjectFINANCIAL SYSTEM
dc.subjectLEGAL FRAMEWORK
dc.subjectACCOUNT
dc.subjectFINANCE
dc.subjectINFRASTRUCTURE
dc.subjectTAXES
dc.subjectBANKING SECTOR
dc.subjectBANKS
dc.subjectEXPENDITURE
dc.subjectRESOURCES
dc.subjectEMERGING MARKETS
dc.subjectGAAP
dc.subjectAUDITED FINANCIAL STATEMENTS
dc.subjectSYSTEMIC RISK
dc.subjectACCOUNTABILITY
dc.subjectPROCUREMENT
dc.subjectINTERNAL AUDITORS
dc.subjectCAPITAL
dc.subjectACCOUNTANTS
dc.subjectFINANCIAL STATISTICS
dc.subjectAUDITORS
dc.subjectEXPENSES
dc.subjectSOCIAL SERVICES
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL POLICIES
dc.subjectBUDGET PROCESS
dc.subjectAUDITED ACCOUNTS
dc.subjectVALUE
dc.subjectTAX LAWS
dc.subjectPENSIONS
dc.subjectBANK
dc.subjectSTATE ENTERPRISES
dc.subjectCREDIT
dc.subjectQUALITY STANDARDS
dc.subjectBUDGETS
dc.subjectPUBLIC ENTERPRISES
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectACCOUNTANCY
dc.subjectCAPITALIZATION
dc.subjectMAINTENANCE
dc.subjectREPORTING SYSTEMS
dc.subjectEXPENDITURES
dc.subjectPROPERTY
dc.subjectCOST
dc.subjectFINANCIAL REGULATION
dc.subjectACCRUAL ACCOUNTING
dc.subjectAUDIT REPORTS
dc.subjectFINANCIAL REPORTING STANDARDS
dc.subjectASSET MANAGEMENT COMPANIES
dc.subjectQUALITY CONTROL
dc.subjectEASTERN CARIBBEAN CENTRAL BANK
dc.subjectLOCAL TAX LAWS
dc.subjectPUBLIC DEBT
dc.subjectSUBSIDIARY
dc.subjectACCOUNTING SYSTEMS
dc.subjectADMINISTRATION
dc.subjectCREDIT RISK
dc.subjectGOVERNANCE
dc.subjectINSURANCE
dc.subjectINTERNAL AUDITING
dc.subjectBOOKKEEPING
dc.subjectTAXATION
dc.subjectCURRENCIES
dc.subjectACCOUNTING STANDARDS
dc.subjectAUDIT COMMITTEES
dc.subjectBUSINESS
dc.subjectRISK
dc.subjectCOMMERCIAL BANKS
dc.subjectAFFILIATE
dc.subjectINTERNAL AUDIT
dc.subjectMINISTRIES OF FINANCE
dc.subjectBANKING
dc.subjectACCOUNTING RESEARCH
dc.subjectFINANCIAL PLANNING
dc.subjectCOOPERATIVES
dc.subjectREVENUE
dc.subjectRISK MANAGEMENT
dc.subjectACCOUNTS
dc.subjectQUALITY ASSURANCE
dc.subjectNONBANK INSTITUTIONS
dc.subjectAUDITING STANDARDS
dc.subjectAUDIT
dc.subjectAUDITING PROFESSION
dc.subjectFINANCIAL SYSTEMS
dc.subjectGOVERNMENTS
dc.subjectCBA
dc.subjectIMPLEMENTATION
dc.subjectCERTIFIED PUBLIC ACCOUNTANTS
dc.subjectAUDITING
dc.subjectECONOMIES
dc.subjectFINANCIAL REPORTS
dc.titleStrengthening Financial Reporting Regimes and the Accountancy Profession and Practices in Selected Caribbean Countriesen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2015-08-10
okr.date.doiregistration2025-05-07T12:39:05.613373Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Other Financial Accountability Study
okr.docurlhttp://documents.worldbank.org/curated/en/2015/06/24738727/strengthening-financial-reporting-regimes-accountancy-profession-practices-selected-caribbean-countries
okr.globalpracticeGovernance
okr.guid690801468242954864
okr.identifier.externaldocumentum090224b082faccb0_1_0
okr.identifier.internaldocumentum24738727
okr.identifier.report97841
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/LCR/2015/06/30/090224b082faccb0/1_0/Rendered/PDF/Strengthening00ountancy0Profession.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.geographicalCaribbean
okr.sectorFinance :: General finance sector
okr.themeLegal institutions for a market economy,Other human development,International financial standards and systems
okr.themeRule of law,Human development,Financial and private sector development
okr.topicPrivate Sector Development::Competitiveness and Competition Policy
okr.topicPrivate Sector Development::Business Environment
okr.topicPrivate Sector Development::Business in Development
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicGovernance::Governance and the Financial Sector
okr.unitGOV PRMM - LCR (GGO22)
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