World Bank2012-06-122012-06-122007-06https://hdl.handle.net/10986/7822This assessment of public sector accounting and auditing standards purpose is to assist with the implementation of more effective public financial management (PFM) through better quality accounting and public audit processes in Maldives. The specific objectives are (a) to provide the country's accounting and audit authorities and other interested stakeholders with a common well-based knowledge as to where local practices stand in comparison with internationally developed standards of financial reporting and audit; (b) to assess the prevailing variances; (c) to chart paths to reduce the variances; and (d) to provide a continuing basis for measuring improvements. Annex A explains the methodology used for the study. Annex B provides a summary of international accounting and auditing standards referred to in this study. Annex C and D provide country accounting and auditing legislation, respectively. Lastly, Annex E includes a description of the benefits of accrual accounting.CC BY 3.0 IGOACCOUNTACCOUNTABLE GOVERNMENTACCOUNTANCYACCOUNTANTSACCOUNTINGACCOUNTING FIRMSACCOUNTING POLICIESACCOUNTING PRACTICESACCOUNTING STANDARDSACCOUNTING SYSTEMACCOUNTSACCRUAL ACCOUNTINGACCRUAL BASISADMINISTRATIVE FRAMEWORKANNUAL FINANCIAL STATEMENTSANNUAL PERFORMANCEANNUAL REPORTANNUAL REPORTINGANNUAL REPORTSANNUAL STATEMENTANNUAL STATEMENTSARTICLEATTESTATIONAUDIT DEPARTMENTSAUDIT ENGAGEMENTSAUDIT EVIDENCEAUDIT OFFICEAUDIT REPORTSAUDITED ACCOUNTSAUDITED FINANCIAL STATEMENTSAUDITINGAUDITING PROFESSIONAUDITING STANDARDSAUDITOR GENERALAUDITOR-GENERALAUDITORSAUDITSBALANCE SHEETBANKSBENEFIT PLANSBONDSBORROWINGBUDGET MANAGEMENTBUDGETINGBUSINESS COMBINATIONSCAPACITY BUILDINGCAPACITY-BUILDINGCASH BASISCASH FLOWCASH FLOWSCASH POSITIONCOMPUTERIZED ACCOUNTING SYSTEMSCONTINGENT LIABILITIESCONTRIBUTIONCURRICULADEBTDECISION-MAKINGDEPRECIATIONDEVELOPMENT BANKDIAGNOSTIC TOOLDISTANCE LEARNINGDUE DILIGENCEEARNINGSECONOMIC DEVELOPMENTEDUCATION PROGRAMSEDUCATION STANDARDSEMPLOYEE BENEFITSEXCHANGE RATESEXPENDITUREEXPENDITURE POLICIESEXPENDITURESEXTERNAL AUDITFINANCIAL ACCOUNTABILITYFINANCIAL ACTIVITIESFINANCIAL APPROACHFINANCIAL COMPLIANCEFINANCIAL IMPACTFINANCIAL INFORMATIONFINANCIAL INSTRUMENTSFINANCIAL MANAGEMENTFINANCIAL POSITIONFINANCIAL REGULATIONSFINANCIAL REPORTINGFINANCIAL REPORTING STANDARDSFINANCIAL REPORTSFINANCIAL STATEMENTFINANCIAL STATEMENTSFINANCIAL SYSTEMSFISCAL AFFAIRSFOREIGN CURRENCYFOREIGN EXCHANGEGOOD PRACTICEGOVERNMENT ACCOUNTINGGOVERNMENT ASSISTANCEGOVERNMENT AUDITINGGOVERNMENT BUDGETGOVERNMENT EMPLOYMENTGOVERNMENT GRANTSGOVERNMENT SPENDINGINCOMEINCOME TAXESINDEPENDENT AUDITORINSURANCEINTANGIBLE ASSETSINTERNAL AUDITINTERNAL AUDITINGINTERNAL CONTROLINTERNAL CONTROL SYSTEMSINTERNAL CONTROLSINTERNATIONAL ACCOUNTING STANDARDSLIABILITYLOANMEMBER COUNTRIESMINISTRY OF FINANCEMONEYSNATIONAL ACCOUNTINGNATIONAL AUDITNATIONAL GOVERNMENTNET SURPLUSOUTREACH PROGRAMSPENSIONSPERFORMANCE AUDITPERFORMANCE MEASUREMENTPERFORMANCE MEASURESPERFORMANCE TARGETSPRIVATE SECTORPROGRAM MANAGERSPROGRAMSPUBLIC ACCOUNTABILITYPUBLIC ACCOUNTINGPUBLIC ACCOUNTSPUBLIC DISCLOSUREPUBLIC ENTERPRISEPUBLIC ENTERPRISESPUBLIC EXPENDITUREPUBLIC FINANCEPUBLIC FINANCIAL MANAGEMENTPUBLIC INTERESTPUBLIC MONEYPUBLIC RESOURCESPUBLIC SECTORPUBLIC SECTOR ACCOUNTINGPUBLIC SECTOR ENTITIESPUBLIC SERVICEQUALITY ASSURANCEQUALITY CONTROLQUESTIONNAIRESREPAYMENTREPORTING SYSTEMSRESPONSIBILITIESRETIREMENTRETIREMENT BENEFITRISK ASSESSMENTSSALARIESSALARYSALESALESSECURITIESSENIORSERVICE ORGANIZATIONSSOUND FINANCIAL MANAGEMENTSOUND FINANCIAL PRACTICESSTAKEHOLDERSSUPPORT PROGRAMSUPREME AUDIT INSTITUTIONSUPREME AUDIT INSTITUTIONSTERMINATIONTERMINATIONSTRAINING COURSETRAINING PROGRAMTRAINING PROGRAMSTRANSPARENCYTRUE COSTSWorld Bank10.1596/7822