Nicaragua : A Review of Accounting and Auditing Practices

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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
2012-03-19T10:14:34Z
dc.date.available
2012-03-19T10:14:34Z
dc.date.issued
2011-03-01
dc.date.lastModified
2017-12-13T12:53:47Z
dc.description.abstract
This ROSC analyzes accounting, financial reporting and auditing practices within the corporate sector in Nicaragua, using International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks, and drawing on international experience and good practice in those fields. Nicaragua remains among the poorest countries of the Western Hemisphere, with 46 percent of its five million people living below the poverty line. The 2008 Gross Domestic Product (GDP) of US$6.4 billion translates into a per-capita GDP of approximately US$1,000. After average GDP growth of about 3.6 percent during 2005-08, the global financial and economic crisis lead to a contraction in real GDP of 1.5 percent in 2009. Going forward, if the private sector is to serve as an engine of growth for the Nicaraguan economy, the country needs to follow high-level accounting and auditing practices and the highest standards of corporate governance. This ROSC supports three main development objectives: (a) improving Nicaragua's investment climate; (b) ensuring the stability and fostering the development of the local financial sector and (c) advancing governance and financial accountability in both the private and public sectors. The report seeks to help the authorities address these issues by: (i) improving the technical skills of accounting and audit practitioners, (ii) strengthening the regulatory framework governing accounting and audit practices in Nicaragua, and (iii) developing the institutional capacity of the country's accounting professional bodies.
en
dc.identifier
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20120229224926
dc.identifier.uri
http://hdl.handle.net/10986/2828
dc.language
English
dc.publisher
World Bank
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
ACCOUNTABILITY
dc.subject
ACCOUNTANCY
dc.subject
ACCOUNTANT
dc.subject
ACCOUNTANTS
dc.subject
ACCOUNTING
dc.subject
ACCOUNTING CURRICULA
dc.subject
ACCOUNTING CURRICULUM
dc.subject
ACCOUNTING POLICIES
dc.subject
ACCOUNTING PRINCIPLES
dc.subject
ACCOUNTING RULES
dc.subject
ACCOUNTING STANDARD
dc.subject
ACCOUNTING STANDARDS
dc.subject
ACCOUNTING SYSTEMS
dc.subject
ACCOUNTING TREATMENT
dc.subject
ACCOUNTS
dc.subject
ACCUMULATED DEPRECIATION
dc.subject
ACTUARIES
dc.subject
AFFILIATES
dc.subject
AUDIT COMMITTEE
dc.subject
AUDIT REPORTS
dc.subject
AUDIT STANDARD
dc.subject
AUDIT STANDARDS
dc.subject
AUDITED FINANCIAL STATEMENTS
dc.subject
AUDITING
dc.subject
AUDITING PROFESSION
dc.subject
AUDITING STANDARDS
dc.subject
AUDITORS
dc.subject
AUDITS
dc.subject
AUTONOMY
dc.subject
BALANCE SHEET
dc.subject
BALANCE SHEETS
dc.subject
BANK FOR INTERNATIONAL SETTLEMENTS
dc.subject
BANKING ASSETS
dc.subject
BANKING CRISIS
dc.subject
BANKING SECTOR
dc.subject
BANKING SECTOR ASSETS
dc.subject
BANKING SUPERVISION
dc.subject
BOND
dc.subject
BONDED WAREHOUSE
dc.subject
BONDED WAREHOUSES
dc.subject
BONDS
dc.subject
BUDGET CONSTRAINTS
dc.subject
BUSINESS ADMINISTRATION
dc.subject
BUSINESS COMBINATIONS
dc.subject
BUSINESS COMMUNITY
dc.subject
CAPACITY CONSTRAINTS
dc.subject
CAPITAL FORMATION
dc.subject
CAPITAL MARKETS
dc.subject
CASH FLOW
dc.subject
CASH FLOWS
dc.subject
CD
dc.subject
CENTRAL BANK
dc.subject
CERTIFICATES OF DEPOSIT
dc.subject
CIVIL CODE
dc.subject
CIVIL LAW
dc.subject
COLLATERAL
dc.subject
COMMERCIAL BANKS
dc.subject
COMMERCIAL PAPER
dc.subject
CONSOLIDATED FINANCIAL STATEMENTS
dc.subject
CONSOLIDATION
dc.subject
COOPERATIVES
dc.subject
CORPORATE GOVERNANCE
dc.subject
CREDIT RISK
dc.subject
CREDIT RISK EXPOSURES
dc.subject
CREDIT RISK MANAGEMENT
dc.subject
CURRENCY
dc.subject
CURRENT ASSETS
dc.subject
DEBT
dc.subject
DEBT RELIEF
dc.subject
DEBTORS
dc.subject
DERIVATIVES
dc.subject
DEVELOPMENT BANK
dc.subject
ECONOMIC DEVELOPMENT
dc.subject
ECONOMIC RISK
dc.subject
ENABLING ENVIRONMENT
dc.subject
ENFORCEMENT MECHANISMS
dc.subject
EQUIPMENT
dc.subject
EXPENDITURE
dc.subject
EXPENDITURES
dc.subject
EXTERNAL AUDITORS
dc.subject
EXTRAORDINARY ITEMS
dc.subject
FACTORING
dc.subject
FAIR VALUE
dc.subject
FINANCIAL ACCOUNTING
dc.subject
FINANCIAL ASSETS
dc.subject
FINANCIAL INFORMATION
dc.subject
FINANCIAL INSTITUTION
dc.subject
FINANCIAL INSTITUTIONS
dc.subject
FINANCIAL INSTRUMENTS
dc.subject
FINANCIAL MANAGEMENT
dc.subject
FINANCIAL REPORTING
dc.subject
FINANCIAL REPORTING STANDARDS
dc.subject
FINANCIAL REPORTS
dc.subject
FINANCIAL SERVICES
dc.subject
FINANCIAL STATEMENT
dc.subject
FINANCIAL STATEMENTS
dc.subject
FINANCIAL SYSTEM
dc.subject
FISCAL POLICIES
dc.subject
FOREIGN BANKS
dc.subject
FORGIVENESS
dc.subject
FRAUDS
dc.subject
FUTURE CASH FLOWS
dc.subject
GAAP
dc.subject
GOOD PRACTICE
dc.subject
GOODWILL
dc.subject
GOVERNANCE STANDARD
dc.subject
GOVERNMENT ACCOUNTING
dc.subject
GOVERNMENT ACCOUNTING STANDARDS
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
HUMAN CAPITAL
dc.subject
HUMAN CAPITAL DEVELOPMENT
dc.subject
HUMAN DEVELOPMENT
dc.subject
INCOME INSTRUMENTS
dc.subject
INCOME STATEMENTS
dc.subject
INFORMATION SYSTEMS
dc.subject
INSTITUTIONAL CAPACITY
dc.subject
INSURANCE
dc.subject
INSURANCE COMPANIES
dc.subject
INSURANCE COMPANY
dc.subject
INSURANCE POLICY
dc.subject
INTERNAL CONTROLS
dc.subject
INTERNATIONAL ACCOUNTING STANDARDS
dc.subject
INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE
dc.subject
INTERNATIONAL BANK
dc.subject
INTERNATIONAL BANKING
dc.subject
INTERNATIONAL FINANCIAL INSTITUTIONS
dc.subject
INTERNATIONAL INVESTORS
dc.subject
INTERNATIONAL SETTLEMENTS
dc.subject
INTERNATIONAL STANDARDS
dc.subject
INVENTORIES
dc.subject
INVENTORY
dc.subject
INVESTMENT CLIMATE
dc.subject
LAWS
dc.subject
LEGAL FRAMEWORK
dc.subject
LEGAL PROVISIONS
dc.subject
LEGAL SYSTEM
dc.subject
LEGISLATION
dc.subject
LENDERS
dc.subject
LIABILITY
dc.subject
LIQUID MARKET
dc.subject
LOAN
dc.subject
LOAN PORTFOLIO
dc.subject
LOCAL BUSINESSES
dc.subject
LOCAL STOCK EXCHANGE
dc.subject
MANDATES
dc.subject
MARKET PARTICIPANTS
dc.subject
MARKET RISK
dc.subject
MATURITY
dc.subject
MATURITY DATES
dc.subject
MICROCREDIT
dc.subject
MICROFINANCE
dc.subject
MICROFINANCE INSTITUTIONS
dc.subject
MICROFINANCE SECTOR
dc.subject
MONETARY FUND
dc.subject
MONETARY POLICY
dc.subject
NET ASSETS
dc.subject
NEW ENTRANTS
dc.subject
OPERATIONAL RISK
dc.subject
OWNERSHIP STRUCTURE
dc.subject
PENSION
dc.subject
PENSION FUND
dc.subject
PENSION FUNDS
dc.subject
POTENTIAL INVESTORS
dc.subject
PRIVATIZATION
dc.subject
PROBABILITY OF DEFAULT
dc.subject
PRODUCTIVITY
dc.subject
PRUDENTIAL REQUIREMENTS
dc.subject
PRUDENTIAL STANDARDS
dc.subject
PRUDENTIAL SUPERVISION
dc.subject
PUBLIC ACCOUNTANTS
dc.subject
PUBLIC ACCOUNTING
dc.subject
PUBLIC DEBT
dc.subject
PUBLIC ENTERPRISES
dc.subject
PUBLIC EXPENDITURES
dc.subject
PUBLIC FUNDS
dc.subject
PUBLIC REGISTRY
dc.subject
PUBLIC SERVICES
dc.subject
QUALITY ASSURANCE
dc.subject
QUALITY CONTROL
dc.subject
QUALITY OF EDUCATION
dc.subject
RATES OF RETURN
dc.subject
REAL SECTOR
dc.subject
REGULATORY FRAMEWORK
dc.subject
RESERVE
dc.subject
RESERVES
dc.subject
RETURN
dc.subject
RISK MANAGEMENT
dc.subject
SECONDARY MARKET
dc.subject
SECURITIES
dc.subject
SECURITIES EXCHANGE
dc.subject
SECURITIES MARKET
dc.subject
SEWAGE
dc.subject
SHAREHOLDER
dc.subject
SHAREHOLDERS
dc.subject
SMALL BUSINESS
dc.subject
SOLVENCY
dc.subject
STOCK EXCHANGE
dc.subject
SUBSIDIARY
dc.subject
SYSTEMIC RISK
dc.subject
TAX
dc.subject
TAX CODE
dc.subject
TAXATION
dc.subject
TERRORISM
dc.subject
TRADING
dc.subject
TURNOVER
dc.subject
VALUATION
dc.subject
VALUATION OF SECURITIES
dc.title
Nicaragua : A Review of Accounting and Auditing Practices
en
okr.crosscuttingsolutionarea
Public-Private Partnerships
okr.date.disclosure
2012-02-28
okr.doctype
Economic & Sector Work :: Accounting and Auditing Assessment (ROSC)
okr.docurl
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20120229224926
okr.globalpractice
Finance and Markets
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000333037_20120229224926
okr.identifier.internaldocumentum
15879698
okr.identifier.report
AAA63
okr.language.supported
en
okr.language.supported
es
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/02/29/000333037_20120229224926/Rendered/PDF/AAA630ESW0P1180C0disclosed020280120.pdf
en
okr.region.administrative
Latin America & Caribbean
okr.region.country
Nicaragua
okr.region.geographical
Central America
okr.region.geographical
America
okr.sector
Finance :: General finance sector
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
Finance and Financial Sector Development :: Banks & Banking Reform
okr.topic
Private Sector Development :: Business in Development
okr.unit
Financial Management (LCSFM)
okr.volume
1 of 1

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