World Bank2013-07-232013-07-232004-06-20https://hdl.handle.net/10986/14480This report provides an assessment of accounting, financial reporting, and auditing requirements and practices within the enterprise and financial sectors in Hungary using International Financial Reporting Standards (IFRS),International Standards on Auditing (ISA), and the relevant portions of European Union (EU) law (also known as the acquis communautaire) as benchmarks. It also draws on international experience and good practices in the field of accounting and audit regulation.en-USCC BY 3.0 IGOACCOUNTABILITYACCOUNTINGACCOUNTING POLICIESACCOUNTING PRINCIPLESACCOUNTING RULESACCOUNTING SERVICESACCOUNTING STANDARDSACCOUNTING TREATMENTACCRUALSACQUISITIONASSURANCEAUDIT CLIENTSAUDITED FINANCIAL STATEMENTSAUDITINGAUDITOR INDEPENDENCEAUDITORSAUDITSBAD DEBTBALANCE SHEETBANK ACCOUNTSBANKING SYSTEMBANKSBOARD MEMBERSBREACH OF DUTYCAPITAL ADEQUACYCAPITALIZATIONCERTIFIED ACCOUNTANTCERTIFIED ACCOUNTANTSCOMPANYCOMPANY LAWCOMPANY LAW DIRECTIVECOMPANY LAW DIRECTIVESCONSOLIDATED FINANCIAL STATEMENTSCONTINGENT LIABILITIESCORPORATE ACCOUNTINGDEBTDECISIONMAKINGECONOMIC GROWTHEXCHANGE RATESEXTRAORDINARY ITEMSFINANCIAL ACCOUNTINGFINANCIAL ASSETFINANCIAL INFORMATIONFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL PERFORMANCEFINANCIAL REPORTINGFINANCIAL REPORTING STANDARDSFINANCIAL TRANSACTIONSFOREIGN EXCHANGEFRAUDGAAPINCOME TAXESINCORPORATEDINDEMNITYINDEMNITY INSURANCEINDIVIDUALSINFLATIONINSPECTIONSINSURANCEINSURANCE COMPANIESINSURERSINTANGIBLE ASSETSINTEGRITYINTERNATIONAL ACCOUNTING STANDARDSINVENTORYLARGE SHAREHOLDERLAWSLEGAL ENTITIESLEGAL ENTITYLEGISLATIONLIMITEDMARKET INSTITUTIONSMEMBER STATESMONOPOLIESMONOPOLYNATIONAL BANKNET PROFITNET SALESPARENT COMPANIESPREMIUMSPROFITABILITYPROGRAMSPROVISIONINGPROVISIONSPUBLICPUBLIC INVOLVEMENTRECENT CORPORATE SCANDALSRESERVESSECURITIESSECURITIES REGULATORSSHARE CAPITALSHARE OWNERSHIPSHAREHOLDERSSMALL COMPANIESSTAKEHOLDERSSTOCK EXCHANGESUBSIDIARIESSUBSIDIARYTAXTAXABLE INCOMETAXATIONTRANSPARENCYTREASURYTREASURY STOCKTUITIONUNIONWorld Bank10.1596/14480