World Bank2012-06-132012-06-132007-07https://hdl.handle.net/10986/7907Strengthening corporate financial reporting is important for Argentina, as the country seeks to foster confidence in the local business community in order to stimulate investments, both local and foreign. In addition, strong corporate accounting practices enable local banks and financial institutions to monitor adequately their businesses risks, credit and otherwise, which is essential at a time when the Argentine banking sector emerges from the crisis triggered by the events of December 2001. Sound accounting and auditing is therefore essential to the stability of Argentina's banking sector. This report analyzes Argentina's corporate financial reporting and auditing practices with a view to supporting the Government's strategy to: (a) improve the investment climate for Argentine companies; (b) foster trade competitiveness by aligning the standards of reporting and governance with practices that are prevalent among the country's main trading partners; and (c) ensure greater transparency in both the private and public sectors. International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA) and good international practice, particularly among the other large countries in Latin America, have been used as benchmarks for this exercise. A study of corporate governance practices was conducted in parallel, which findings complement those of the Report on the Observance of Standards and Codes (ROSC) accounting and auditing.CC BY 3.0 IGOACCESS TO CREDITACCOUNTACCOUNTANCYACCOUNTANTACCOUNTANTSACCOUNTINGACCOUNTING DOCUMENTSACCOUNTING PRACTICESACCOUNTING RECORDSACCOUNTING RULESACCOUNTING STANDARDACCOUNTING STANDARDSACCOUNTING SYSTEMSACCOUNTING TREATMENTACCOUNTSACQUISITIONACTUARIESASSET VALUEAUDIT COMMITTEEAUDIT COMMITTEESAUDITED FINANCIAL STATEMENTSAUDITINGAUDITING STANDARDSAUDITOR ROTATIONAUDITORSAUDITSBALANCE SHEETBANK FINANCINGBANKING SECTORBOOKKEEPINGBROCHUREBUDGET DEFICITSBUDGET SURPLUSESBUSINESS ADMINISTRATIONBUSINESS CLIMATEBUSINESS COMBINATIONSBUSINESS COMMUNITYCAPITAL FLIGHTCAPITAL INVESTMENTSCAPITAL MARKETSCAPITALIZATIONCASH FLOWCASH FLOWSCDCENTRAL BANKCHECKSCOMMERCIAL CODECOMPANY LAWCONTINGENT LIABILITIESCONTRIBUTIONCOOPERATIVESCOPYRIGHT CLEARANCECOPYRIGHT CLEARANCE CENTERCORPORATE BONDSCORPORATE GOVERNANCECREDIBILITYCREDIT DECISIONSCREDIT RISKCREDIT RISK MANAGEMENTCREDITSCURRICULACURRICULUMDATED CHECKSDEBT INSTRUMENTSDEBT MARKETSDEBT SECURITIESDEPOSITDEPOSITORIESDEPOSITORSDERIVATIVEDERIVATIVE MARKETSDEVELOPMENT BANKEARNINGSECONOMIC CRISESECONOMIC DEVELOPMENTECONOMIC DOWNTURNSECONOMIC PERFORMANCEEDUCATION STANDARDSENFORCEMENT PROCEDURESENTRY REQUIREMENTSEXCHANGE COMMISSIONEXTERNAL DEBTFAIR VALUEFINANCIAL COMPANIESFINANCIAL INFORMATIONFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL MARKETFINANCIAL POSITIONFINANCIAL REPORTINGFINANCIAL REPORTING STANDARDSFINANCIAL REPORTSFINANCIAL RESOURCESFINANCIAL SECTORFINANCIAL STATEMENTFINANCIAL STATEMENTSFINANCIAL SYSTEMFIXED ASSETSFOREIGN CURRENCYFOREIGN DEBTFOREIGN EXCHANGEFOREIGN EXCHANGE MARKETFOREIGN TRADEFRAUDGAAPGENERAL PUBLICGOOD PRACTICEGOOD PRACTICESGOODWILLGOVERNANCE PRACTICESGOVERNMENT BONDSGOVERNMENT DEBTGROSS DOMESTIC PRODUCTINCOMEINCOME TAXINCOME TAXESINDIVIDUAL INVESTORSINFLATIONINFORMED DECISIONSINSTITUTIONAL CAPACITYINSTITUTIONAL ENVIRONMENTINSTRUMENTINSURANCEINSURANCE COMPANIESINTANGIBLEINTANGIBLE ASSETSINTERNAL AUDITINTERNAL AUDITORSINTERNAL CONTROLSINTERNATIONAL ACCOUNTING STANDARDSINTERNATIONAL ACCOUNTING STANDARDS COMMITTEEINTERNATIONAL BANKINTERNATIONAL HARMONIZATIONINTERNATIONAL INVESTORSINTERNATIONAL STANDARDINTERNATIONAL STANDARDSINTERNATIONAL TRANSACTIONSINVENTORIESINVENTORYINVESTINGINVESTMENT CLIMATEINVESTMENT FUNDSINVESTOR CONFIDENCEISSUANCEJURISDICTIONJURISDICTIONSLARGE COMPANIESLARGE COMPANYLEGAL FRAMEWORKLEGAL SYSTEMLENDERSLIMITED LIABILITYLIMITED LIABILITY COMPANIESLIQUIDITYLOANLOAN PORTFOLIOSLOCAL BANKSLOCAL BUSINESSLONG TERM SAVINGSLONG-TERM ASSETSLONG-TERM CAPITALMARKET REGULATORMATURITYMEDIUM ENTERPRISESMINIMUM CAPITAL REQUIREMENTNATURAL RESOURCESNET ASSETNON PERFORMING LOANSNONPROFIT ORGANIZATIONPARENT COMPANYPENSIONPENSION FUNDPENSION FUNDSPENSION SECTORPOLITICAL CONSIDERATIONSPOVERTY LEVELSPRIVATE PENSIONPRIVATE PENSION FUNDSPRIVATE SECTOR DEVELOPMENTPROFESSIONAL EDUCATIONPUBLIC ACCOUNTANTSPUBLIC OFFERINGPUBLIC OFFERINGSQUALITY ASSURANCEQUALITY CONTROLRECESSIONREGIONAL INTEGRATIONREGULATORSREGULATORY AGENCIESREINSURANCEREPORTINGRESERVESRESPONSIBILITIESRETURNRETURNSRISK MANAGEMENTSALESSECURITIESSECURITIES EXCHANGESECURITIES LAWSSECURITIES MARKETSELF-REGULATIONSHARE CAPITALSHAREHOLDERSSOLVENCYSTAKEHOLDERSSTATUTORY AUDITORSSTATUTORY REQUIREMENTSSTOCK EXCHANGESTOCK EXCHANGESSTOCK MARKETSTOCK MARKETSSUSTAINABLE GROWTHTAXTRADINGTRAINING PROGRAMTRANSACTIONTRANSPARENCYTRUST FUNDSUNEMPLOYMENTVALUATIONWORTHWorld Bank10.1596/7907