World Bank2013-07-252013-07-252004-05-25https://hdl.handle.net/10986/14548This report provides an assessment of accounting, financial reporting and auditing requirements and practices within the enterprise and financial sectors in Estonia. The report uses International Financial Reporting Standards (IFRSs), International Standards on Auditing, and the relevant portions of European Union (EU) law (also known as the acquis communautaire) as benchmarks and draws on international experience and good practices in the field of accounting and audit regulation.en-USCC BY 3.0 IGOACCOUNTINGACCOUNTING FRAMEWORKACCOUNTING PERIODSACCOUNTING POLICIESACCOUNTING PRINCIPLESACCOUNTING RECORDSACCOUNTING STANDARDSACCOUNTING TREATMENTAUDITED FINANCIAL STATEMENTSAUDITINGAUDITORSAUDITSBANKING SECTORBANKSCAPITAL MARKETSCAPITALIZATIONCOMMERCIAL BANKSCONSOLIDATED FINANCIAL STATEMENTSCONSOLIDATIONCORPORATE INCOME TAXCREDITWORTHINESSECONOMIC GROWTHEQUITY FINANCINGEXTERNAL AUDITORSFINANCIAL INSTITUTIONSFINANCIAL REPORTINGFINANCIAL REPORTING STANDARDSGROSS DOMESTIC PRODUCTHOLDING COMPANIESINSURANCEINTEREST RATESINTERNATIONAL ACCOUNTING STANDARDSINTERNATIONAL AUDITING STANDARDSLEGAL PROVISIONLEGISLATIONLEVEL PLAYING FIELDMANDATESPENALTIESPRIVATE SECTORPROVISIONSPUBLICRESERVE REQUIREMENTSSECURITIES MARKETSSHARE CAPITALSHAREHOLDERSSUBSIDIARYTAXTAX RATESTAXATIONTRANSACTION COSTSWorld Bank10.1596/14548