Publication: Corporate Sector Accounting and Auditing in the Acquis Communautaire: A Building Block of the Internal Market
Loading...
Published
2016
ISSN
Date
2016-06-06
Author(s)
Editor(s)
Abstract
This guide is designed to ensure that a comprehensive overview of the relevant provisions of the acquis communautaire is available to policymakers, regulators, and other stakeholders in countries with a European vocation or those simply wishing to take the European Union (EU) regulatory model into account when devising their own national approaches. This guide outlines and summarizes the EU legislative framework governing corporate sector accounting and auditing. The guide begins by giving a brief history and overview of the EU, its institutions, and legislative processes in section one. In section two, the guide focuses on the development of the internal market, particularly in the areas of financial market integration and company law harmonization. Section three addresses the harmonization of accounting and auditing in the EU. Section four looks at the most pressing accounting and auditing issues for the EU.
Link to Data Set
Citation
“World Bank. 2016. Corporate Sector Accounting and Auditing in the Acquis Communautaire: A Building Block of the Internal Market. © World Bank. http://hdl.handle.net/10986/24425 License: CC BY 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Guide to Corporate Sector Accounting and Auditing in the Acquis Communautaire, 2nd Edition(World Bank, Vienna, 2011)This guide is designed to ensure that a comprehensive overview of the relevant provisions of the acquis communautaire is available to policymakers, regulators, and other stakeholders in countries with a European vocation or those simply wishing to take the European Union (EU) regulatory model into account when devising their own national approaches. This guide outlines and summarizes the EU legislative framework governing corporate sector accounting and auditing. It is primarily intended for an audience with little prior knowledge of the EU. Consequently, rather than delving directly into the issues of accounting and auditing, the guide begins by giving a brief history and overview of the EU, its institutions and legislative processes in section one. In section two, the guide focuses on the development of the internal market, particularly in the areas of financial market integration and company law harmonization. Section three addresses the harmonization of accounting and auditing in the EU. Section four looks at the most pressing accounting and auditing issues for the EU.Publication Ghana : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment(Washington, DC, 2005-05)This report assesses Ghana's corporate governance policy framework, enforcement and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Ghana. Ghana is a promising capital market with remarkable recent performance, significant momentum and will for improvement. Continuing challenges are presented however, by its weak institutional base and capacity, as well as by persistent gaps in enforcement. The report identifies several key next steps that focus on implementation, including: 1. A concentrated effort to raise awareness of corporate governance, transparency and accountability. The effort should include director training, possibly with Securities and Exchange Commission (SEC) certification requirements. 2. An overhaul of the institutional framework and capacity, including training, resources, and effectiveness. Particular focus should be directed at promoting the new specialized commercial court, and private arbitration; developing a central depository system for equities; creating an effective companies registry; and improving enforcement of accounting and auditing. 3. Continued legislative review and modernization. 4. An improvement of SEC resources and training would enable it to focus on rule-making and enforcement of disclosure quality, related party transactions, insider trading, ownership disclosure (especially by directors and insiders), management of conflicts of interest among market operators, and shareholder redress. Improved electronic market surveillance by the Ghana Stock Exchange will assist with this ambitious agenda. These measures will help develop Ghana's capital markets, attract investors, and promote best practice of investor protection.Publication Corporate Governance Country Assessment : Malaysia(Washington, DC, 2012-07)This report assesses Ghana s corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Ghana. It is an update of the 2005 Corporate Governance ROSC. Good corporate governance enhances investor trust, helps to protects minority shareholders, and can encourage better decision making and improved relations with workers, creditors, and other stakeholders. Better investor protection can lower the cost of capital and encourage companies to list and raise funds through equity markets. Investor protection is also crucial to protect retirement savings as pension funds invest more in listed companies. Good corporate governance also helps to ensure that these companies operate more transparently and efficiently.Publication Corporate Governance Country Assessment : Togo(Washington, DC, 2009-03)The purpose of this ROSC assessment of corporate governance in Togo is to help improve corporate governance in the country by assessing law and practice, suggesting reforms, and supporting the country in its effort to implement changes for better corporate governance. Corporate governance refers to the structures and processes for the direction and control of companies. Corporate governance concerns the relationships among the management, board of directors, controlling shareholders, minority shareholders and other stakeholders. This definition focuses on company performance and shareholder value. For emerging market countries, improving corporate governance can serve a number of important public policy objectives. Good corporate governance reduces emerging market vulnerability to financial crises, reinforces property rights, reduces transaction costs and the cost of capital, and leads to capital market development. Weak corporate governance frameworks reduce investor confidence, and can discourage outside investment. In state-owned enterprises (SOEs), good corporate governance could improve performance and social service, and lessen impact on state budget. Due to the small market size for listed securities in Togo, the scope of the present report is broadened to include a corporate governance assessment of non-listed public limited companies, SOEs, as well as private and state-owned banks (SOBs).Publication Corporate Governance Country Assessment : Thailand(Washington, DC, 2013-01)This report assesses Thailand s corporate governance policy framework. It highlights recent improvements in corporate governance (CG) regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Thailand. It is an update of the 2005 Corporate Governance Report on the Observance of Standards and Codes (CG ROSC). Good corporate governance enhances investor trust, protects minority shareholders, and encourages better decision making and improved relations with workers, creditors, and other stakeholders. Better investor protection can lower the cost of capital and encourage companies to list and raise funds through equity markets. It is crucial to protect retirement savings invested in listed companies. Good corporate governance also helps to ensure that these companies operate more transparently and efficiently.
Users also downloaded
Showing related downloaded files
Publication Classroom Assessment to Support Foundational Literacy(Washington, DC: World Bank, 2025-03-21)This document focuses primarily on how classroom assessment activities can measure students’ literacy skills as they progress along a learning trajectory towards reading fluently and with comprehension by the end of primary school grades. The document addresses considerations regarding the design and implementation of early grade reading classroom assessment, provides examples of assessment activities from a variety of countries and contexts, and discusses the importance of incorporating classroom assessment practices into teacher training and professional development opportunities for teachers. The structure of the document is as follows. The first section presents definitions and addresses basic questions on classroom assessment. Section 2 covers the intersection between assessment and early grade reading by discussing how learning assessment can measure early grade reading skills following the reading learning trajectory. Section 3 compares some of the most common early grade literacy assessment tools with respect to the early grade reading skills and developmental phases. Section 4 of the document addresses teacher training considerations in developing, scoring, and using early grade reading assessment. Additional issues in assessing reading skills in the classroom and using assessment results to improve teaching and learning are reviewed in section 5. Throughout the document, country cases are presented to demonstrate how assessment activities can be implemented in the classroom in different contexts.Publication Morocco Economic Update, Winter 2025(Washington, DC: World Bank, 2025-04-03)Despite the drought causing a modest deceleration of overall GDP growth to 3.2 percent, the Moroccan economy has exhibited some encouraging trends in 2024. Non-agricultural growth has accelerated to an estimated 3.8 percent, driven by a revitalized industrial sector and a rebound in gross capital formation. Inflation has dropped below 1 percent, allowing Bank al-Maghrib to begin easing its monetary policy. While rural labor markets remain depressed, the economy has added close to 162,000 jobs in urban areas. Morocco’s external position remains strong overall, with a moderate current account deficit largely financed by growing foreign direct investment inflows, underpinned by solid investor confidence indicators. Despite significant spending pressures, the debt-to-GDP ratio is slowly declining.Publication Unlocking Blue Carbon Development(Washington, DC: World Bank, 2023-09-11)The purpose of this paper is to provide a practical framework to guide governments in catalyzing and scaling up public and private investment in Blue Carbon as part of their blue economy development. It does this by describing in detail a Blue Carbon Readiness Framework, a step-by-step, well-illustrated guide with simple checklists. Client countries can use the illustrations and checklists to determine their readiness to catalyze and scale up investment in blue carbon credit finance. The Blue Carbon Readiness Framework consists of three pillars: 1. Data and Analytics; 2. Policy and Institutions; 3. Finance.Publication World Development Report 2006(Washington, DC, 2005)This year’s Word Development Report (WDR), the twenty-eighth, looks at the role of equity in the development process. It defines equity in terms of two basic principles. The first is equal opportunities: that a person’s chances in life should be determined by his or her talents and efforts, rather than by pre-determined circumstances such as race, gender, social or family background. The second principle is the avoidance of extreme deprivation in outcomes, particularly in health, education and consumption levels. This principle thus includes the objective of poverty reduction. The report’s main message is that, in the long run, the pursuit of equity and the pursuit of economic prosperity are complementary. In addition to detailed chapters exploring these and related issues, the Report contains selected data from the World Development Indicators 2005‹an appendix of economic and social data for over 200 countries. This Report offers practical insights for policymakers, executives, scholars, and all those with an interest in economic development.Publication Argentina Country Climate and Development Report(World Bank, Washington, DC, 2022-11)The Argentina Country Climate and Development Report (CCDR) explores opportunities and identifies trade-offs for aligning Argentina’s growth and poverty reduction policies with its commitments on, and its ability to withstand, climate change. It assesses how the country can: reduce its vulnerability to climate shocks through targeted public and private investments and adequation of social protection. The report also shows how Argentina can seize the benefits of a global decarbonization path to sustain a more robust economic growth through further development of Argentina’s potential for renewable energy, energy efficiency actions, the lithium value chain, as well as climate-smart agriculture (and land use) options. Given Argentina’s context, this CCDR focuses on win-win policies and investments, which have large co-benefits or can contribute to raising the country’s growth while helping to adapt the economy, also considering how human capital actions can accompany a just transition.