World Bank2012-03-192012-03-192009-02-16https://hdl.handle.net/10986/3200This report is based on a review of the strengths and weaknesses of corporate accounting and auditing practices in Afghanistan. It forms part of a joint initiative between the World Bank and the International Monetary Fund (IMF) on Reports on the Observance of Standards and Codes (ROSC), which covers a set of twelve internationally recognized core standards and codes relevant to economic stability and private and financial sector development. The review involved the assessment of actual practices and an analysis of the effectiveness of monitoring and enforcement mechanisms, in the area of corporate accounting and auditing in Afghanistan. International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) served as benchmarks for evaluating comparability of locally applicable accounting and auditing requirements. The review used a diagnostic template developed by the World Bank to facilitate collection of information. The information was complemented by the findings of a due diligence exercise, based on a series of meetings with key stakeholders, conducted by World Bank staff and consultants.CC BY 3.0 IGOACCOUNTACCOUNTANCYACCOUNTANTSACCOUNTINGACCOUNTING FIRMACCOUNTING POLICIESACCOUNTING PRINCIPLESACCOUNTING REFORMACCOUNTSACCRUAL ACCOUNTINGADBAMOUNT OF COLLATERALARBITRATIONARBITRATION LAWAUDIT REPORTSAUDITED FINANCIAL STATEMENTSAUDITINGAUDITING PROFESSIONAUDITING STANDARDSAUDITORSAUDITSBALANCE SHEETBANK BORROWINGBANK LENDINGBANK LENDING POLICIESBANKING LAWBANKING LAWSBANKING SECTORBANKING SUPERVISIONBANKSBORROWERBORROWING COSTSBUSINESS COMMUNITYBUSINESS ETHICSBUSINESS FORECASTSBUSINESS PLANSCAPACITY ENHANCEMENTCAPITAL STRUCTURECASH FLOWCASH FLOW STATEMENTSCENTRAL BANKCIVIL CODECOMMERCIAL BANKSCOMMERCIAL CODECOMMERCIAL LAWSCONFLICT OF INTERESTCONSOLIDATED FINANCIAL STATEMENTSCORPORATE GOVERNANCECORPORATE LAWCORPORATE LAWSCORPORATE REGISTRYCREDITORCREDITOR RIGHTSCURRENCYDEBTDEPOSITDEVELOPMENT BANKDISCLAIMER OF OPINIONDOMESTIC BANKDUE DILIGENCEECONOMIC STABILITYENFORCEMENT MECHANISMSEQUIPMENTEQUITY MARKETSEXPENDITUREEXTERNAL AUDITORSFAIR VALUEFINANCIAL INFORMATIONFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL MANAGEMENTFINANCIAL PERFORMANCEFINANCIAL REPORTINGFINANCIAL REPORTING STANDARDSFINANCIAL SYSTEMFINANCIAL YEARSFOREIGN DIRECT INVESTMENTFOREIGN INVESTMENTFOREIGN INVESTORSGAAPGOOD PRACTICEGOOD PRACTICESGROSS DOMESTIC PRODUCTHUMAN RESOURCEIMAGEIMMOVABLE PROPERTIESIMMOVABLE PROPERTYINCOME STATEMENTSINCOME TAXINCOME TAXESINDUSTRIAL BANKSINSTITUTIONAL CAPACITYINSTRUMENTINSURANCEINSURANCE COMPANIESINTANGIBLEINTANGIBLE ASSETSINTEREST RATESINTERNATIONAL ACCOUNTING STANDARDSINTERNATIONAL ACCOUNTING STANDARDS COMMITTEEINTERNATIONAL DEVELOPMENTINTERNATIONAL DEVELOPMENTSINTERNATIONAL FINANCEINTERNATIONAL STANDARDSINVENTORIESINVESTMENT POLICIESISLAMIC LAWISSUANCEJUDICIAL REFORMLAWSLEGAL PROVISIONSLEGAL REFORMLEGAL SYSTEMLEGISLATIONLENDING DECISIONSLIMITED LIABILITIESLIMITED LIABILITYLLCLOANLOAN APPLICATIONLOCAL BUSINESSESLOCAL CAPACITYLOCAL ECONOMYLOCAL ENTERPRISESMICRO ENTERPRISESMONETARY FUNDMUNICIPALITIESNEGOTIABLE INSTRUMENTSNET PROFITNON-PERFORMING LOANSPENALTIESPRIVATE BANKPRIVATE INVESTMENTPRIVATIZATIONPRUDENTIAL REGULATIONSQUALITY ASSURANCEQUALITY CONTROLREGISTRATION PROCESSREGULATORY OVERSIGHTREGULATORY STANDARDSRETIREMENTRETURNSSECURITIESSECURITIES REGULATIONSHAREHOLDERSSUBSIDIARIESTAXTAX CONCESSIONTECHNICAL ASSISTANCETERRORISMTRADINGTRANSPARENCYTRUSTEESWorld Bank10.1596/3200