Republic of Trinidad and Tobago : Report on the Observance of Standard and Codes - Accounting and Auditing

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collection.link.10
https://openknowledge.worldbank.org/handle/10986/2111
collection.name.10
Accounting and Auditing Assessment
dc.contributor.author
World Bank
dc.date.accessioned
2013-09-25T20:14:10Z
dc.date.available
2013-09-25T20:14:10Z
dc.date.issued
2013-03-28
dc.description.abstract
The Report on the Observance of Standard and Codes (ROSC) Accounting and Auditing (A&A) focuses on the institutional framework underpinning national accounting and auditing practices, and their conformity with international standards and good practices. It evaluates the: a) adequacy of reporting requirements, b) capacity to implement applicable standards and codes, and c) the effectiveness of enforcement mechanisms for ensuring compliance with applicable standards and codes. This report provides an assessment of corporate sector accounting, financial reporting, and auditing practices in Trinidad and Tobago. It aims to assist the Government of Trinidad and Tobago's efforts to strengthen accounting and auditing practices and enhance financial transparency in the corporate sector, so as to support the Government's objective of private sector-led growth and deepened integration with the international economy. Trinidad and Tobago is a relatively small, open economy with a high per capita income and abundant natural resources. Key areas for strengthening Trinidad and Tobago's corporate financial reporting practices are: 1) establishing a culture of compliance; 2) improving monitoring and enforcement capabilities of various regulators; 3) establishing institutional mechanisms for regulating the accounting profession, including independent oversight; 4) enhancing technical capacities of Institute of Chartered Accountants of Trinidad and Tobago (ICATT); 5) improving professional accountancy education and training; and 6) improving the statutory framework for corporate financial reporting. The recommendations in this report are presented for the consideration of authorities in Trinidad and Tobago as suggested inputs for the development of a country action plan, geared toward strengthening the corporate financial reporting regime.
en
dc.identifier
http://documents.worldbank.org/curated/en/2013/03/18023611/trinidad-tobago-report-observance-standard-codes-rosc-accounting-auditing
dc.identifier.uri
http://hdl.handle.net/10986/15822
dc.language
English
dc.language.iso
en_US
dc.publisher
Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCESS TO FINANCING
dc.subject
ACCOUNT
dc.subject
ACCOUNTABILITY
dc.subject
ACCOUNTANCY
dc.subject
ACCOUNTANT
dc.subject
ACCOUNTANTS
dc.subject
ACCOUNTING
dc.subject
ACCOUNTING SERVICES
dc.subject
ACCOUNTS
dc.subject
ACQUISITION
dc.subject
AFFILIATES
dc.subject
ARBITRAGE
dc.subject
ASSET MANAGEMENT
dc.subject
ASSET MANAGEMENT COMPANIES
dc.subject
AUDIT COMMITTEE
dc.subject
AUDIT REPORTS
dc.subject
AUDITED FINANCIAL STATEMENTS
dc.subject
AUDITING
dc.subject
AUDITING PROFESSION
dc.subject
AUDITING STANDARDS
dc.subject
AUDITOR ROTATION
dc.subject
AUDITORS
dc.subject
AUDITS
dc.subject
BAILOUTS
dc.subject
BANK FINANCING
dc.subject
BANK INTEREST RATES
dc.subject
BANKING ASSETS
dc.subject
BANKING INDUSTRY
dc.subject
BANKING INSTITUTIONS
dc.subject
BANKING REGULATION
dc.subject
BANKING SECTOR
dc.subject
BANKING SUPERVISION
dc.subject
BROKERS
dc.subject
BUDGET DEFICIT
dc.subject
CAPACITY CONSTRAINTS
dc.subject
CASH FLOW
dc.subject
CENTRAL BANK
dc.subject
CERTIFIED PUBLIC ACCOUNTANTS
dc.subject
CHECKS
dc.subject
COLLECTIVE INVESTMENT
dc.subject
COLLECTIVE INVESTMENTS
dc.subject
COMMERCIAL BANK
dc.subject
COMMERCIAL BANKS
dc.subject
CONSOLIDATED FINANCIAL STATEMENTS
dc.subject
CONSOLIDATED SUPERVISION
dc.subject
CORPORATE GOVERNANCE
dc.subject
CORPORATE LAWS
dc.subject
CREDIT UNION
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CREDIT UNIONS
dc.subject
CURRENCY
dc.subject
DEBT
dc.subject
DEBT RATIO
dc.subject
DEPOSIT
dc.subject
DEPOSIT INSURANCE
dc.subject
DEPOSIT LIABILITIES
dc.subject
DEPOSITORS
dc.subject
ECONOMIC CONDITIONS
dc.subject
EMPLOYMENT
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ENFORCEMENT MECHANISMS
dc.subject
ENTRY REQUIREMENTS
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EXCHANGE COMMISSION
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EXPENDITURE
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EXTENSION OF CREDIT
dc.subject
EXTERNAL AUDITORS
dc.subject
FINANCIAL CRISES
dc.subject
FINANCIAL INFORMATION
dc.subject
FINANCIAL INSTITUTION
dc.subject
FINANCIAL INSTITUTIONS
dc.subject
FINANCIAL MANAGEMENT
dc.subject
FINANCIAL REPORTING
dc.subject
FINANCIAL REPORTING STANDARDS
dc.subject
FINANCIAL REPORTS
dc.subject
FINANCIAL SECTOR DEVELOPMENT
dc.subject
FINANCIAL SERVICES
dc.subject
FINANCIAL SHOCK
dc.subject
FINANCIAL STATEMENTS
dc.subject
FINANCIAL SYSTEM
dc.subject
FISCAL POLICY
dc.subject
FOREIGN DIRECT INVESTMENT
dc.subject
FOREIGN INVESTMENT
dc.subject
GOOD PRACTICE
dc.subject
GOOD PRACTICES
dc.subject
GOVERNMENT INTERVENTIONS
dc.subject
GOVERNMENT REVENUES
dc.subject
GOVERNMENT SUPPORT
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
HOLDING
dc.subject
HOLDINGS
dc.subject
HOUSING
dc.subject
INADEQUATE DISCLOSURE
dc.subject
INFLATION
dc.subject
INSTITUTIONAL CAPACITY
dc.subject
INSURANCE
dc.subject
INSURANCE COMPANIES
dc.subject
INSURANCE COMPANY
dc.subject
INSURANCE INDUSTRY
dc.subject
INSURANCE PREMIUMS
dc.subject
INTERNAL AUDIT
dc.subject
INTERNAL CONTROLS
dc.subject
INTERNATIONAL ACCOUNTING STANDARDS
dc.subject
INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE
dc.subject
INTERNATIONAL BANK
dc.subject
INTERNATIONAL STANDARDS
dc.subject
INVESTMENT BANK
dc.subject
INVESTMENT BANKS
dc.subject
INVESTMENT CLIMATE
dc.subject
INVESTMENT DECISIONS
dc.subject
LEGAL FRAMEWORK
dc.subject
LEGAL MECHANISMS
dc.subject
LEGISLATION
dc.subject
LEGISLATIVE FRAMEWORK
dc.subject
LENDING DECISIONS
dc.subject
LENDING INSTITUTIONS
dc.subject
LEVY
dc.subject
LIFE INSURANCE
dc.subject
LIFE INSURANCE COMPANIES
dc.subject
LIMITED LIABILITY
dc.subject
LIQUIDITY
dc.subject
LONG-TERM ASSETS
dc.subject
MARKET CAPITALIZATION
dc.subject
MERCHANT BANKS
dc.subject
MONETARY FUND
dc.subject
MONEY MARKET
dc.subject
MUTUAL FUNDS
dc.subject
NATURAL RESOURCES
dc.subject
NET ASSETS
dc.subject
NEW PRODUCTS
dc.subject
OLIGOPOLY
dc.subject
OPEN ECONOMY
dc.subject
PENALTIES
dc.subject
PENSION
dc.subject
PENSION FUNDS
dc.subject
PRIVATE INVESTMENT
dc.subject
PRUDENTIAL REQUIREMENTS
dc.subject
PUBLIC ACCOUNTANTS
dc.subject
PUBLIC ENTERPRISES
dc.subject
PUBLIC SERVICES
dc.subject
QUALITY ASSURANCE
dc.subject
QUALITY CONTROL
dc.subject
REAL ESTATE INVESTMENTS
dc.subject
REGULATORY AUTHORITY
dc.subject
REGULATORY CAPACITY
dc.subject
REGULATORY FRAMEWORK
dc.subject
REGULATORY OVERSIGHT
dc.subject
RETURN
dc.subject
RETURNS
dc.subject
SAVINGS
dc.subject
SECURITIES
dc.subject
SECURITIES EXCHANGE
dc.subject
SECURITIES INDUSTRIES
dc.subject
SECURITIES INDUSTRY
dc.subject
SECURITIES REGULATION
dc.subject
SETTLEMENT
dc.subject
SHAREHOLDER
dc.subject
SHAREHOLDERS
dc.subject
SOLVENCY
dc.subject
STATUTORY AUDITORS
dc.subject
STATUTORY FUND
dc.subject
STATUTORY REQUIREMENT
dc.subject
STATUTORY REQUIREMENTS
dc.subject
STOCK EXCHANGE
dc.subject
STOCK MARKET
dc.subject
STOCK MARKET CAPITALIZATION
dc.subject
SUBSIDIARIES
dc.subject
SUBSIDIARY
dc.subject
SUPERVISORY AGENCIES
dc.subject
SUPERVISORY FRAMEWORK
dc.subject
TAX
dc.subject
TAXATION
dc.subject
TECHNICAL ASSISTANCE
dc.subject
TRADING
dc.subject
TRANSPARENCY
dc.subject
TRANSPORT
dc.subject
TRUST FUNDS
dc.subject
TURNOVER
dc.subject
VALUATION
dc.title
Republic of Trinidad and Tobago : Report on the Observance of Standard and Codes - Accounting and Auditing
en
okr.crosscuttingsolutionarea
Public-Private Partnerships
okr.date.disclosure
2013-07-19
okr.doctype
Economic & Sector Work :: Accounting and Auditing Assessment (ROSC)
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/2013/03/18023611/trinidad-tobago-report-observance-standard-codes-rosc-accounting-auditing
okr.globalpractice
Finance and Markets
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000356161_20130719112531
okr.identifier.internaldocumentum
18023611
okr.identifier.report
ACS3213
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/07/19/000356161_20130719112531/Rendered/PDF/ACS32130ESW0P100Box377382B00PUBLIC0.pdf
en
okr.region.administrative
Latin America & Caribbean
okr.region.country
Trinidad and Tobago
okr.sector
Finance :: General finance sector
okr.theme
Rule of law :: Legal institutions for a market economy
okr.theme
Financial and private sector development :: Standards and financial reporting
okr.theme
Trade and integration :: International financial architecture
okr.theme
Human development :: Other human development
okr.topic
Private Sector Development :: Competitiveness and Competition Policy
okr.topic
Private Sector Development :: Business Environment
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Banks and Banking Reform
okr.topic
Private Sector Development :: Business in Development
okr.unit
Financial Management (LCSFM)
okr.volume
1 of 1

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