2017年-世界发展银行全球_Report_on_the_Observance_of_Standards_and_Codes_Accounting_and_Auditing___Revision_of_the_Diagnostic_Tool_-_Summary_Note_11页_208kb

Summary of the Report on the Observance of Standards & Codes (ROSC) Accounting & Auditing (A&A)

1. Core Content

The Report on the Observance of Standards & Codes (ROSC) Accounting & Auditing (A&A) program is a joint initiative of the World Bank and IMF aimed at strengthening financial systems by improving compliance with internationally recognized standards. This report outlines the revision of the diagnostic tool used in the ROSC A&A assessments, detailing the rationale, approach, and key changes to enhance its relevance, completeness, and effectiveness.

The diagnostic tool is essential for evaluating the quality of accounting and auditing practices in partner countries, with a focus on aligning national standards with IFRS and ISA, as well as assessing the institutional framework and observed reporting practices.

2. Main Objectives of the Revision

The revision of the diagnostic tool was driven by two main objectives:

• Updating and improving the existing four-part diagnostic tool to ensure it is consistent, comprehensive, and aligned with current international standards.
• Developing guidelines to assist task teams in planning and conducting assessments using the revised tool.

These objectives aim to support the World Bank's dual goals of eliminating extreme poverty and boosting shared prosperity, as well as align with the Sustainable Development Goals (SDGs), particularly Goal 8 and Goal 9.

3. Key Changes in the Revised Diagnostic Tool

3.1 Module A: Accounting and Auditing Standards

• Replaces the former Parts III and IV, focusing on comparisons between national standards and IFRS/ISA.
• Includes checklists for assessing key areas of divergence, such as:
  • Presentation of financial statements (IAS 1)
  • Revenue recognition (IFRS 15)
  • Leases (IFRS 16)
  • Financial instruments (IFRS 9)
  • Employee benefits (IAS 19)
  • Consolidation and joint arrangements (IFRSs 10–12)
  • Operating segments (IFRS 8)
  • Fair value, income taxes, and foreign exchange (IFRS 13, IAS 12, IAS 21)
• Decision trees are provided to guide the use of checklists.
• The tool is updated to reflect the effective dates of IFRS 9 and IFRS 15 (2018) and IFRS 16 (2019).

3.2 Module B: Institutional Framework for Corporate Financial Reporting

• Replaces the former Part I, now consisting of nine thematically-linked questionnaires.
• Questionnaires cover:
  • Commercial enterprises (including SMEs)
  • Listed companies
  • Banks
  • Insurance
  • Accountancy profession
  • Accountancy education
  • Audit regulation, quality assurance, and public oversight
  • Accounting standard-setting
  • Auditing standard-setting
• The modular structure allows for greater flexibility in assessments based on the country context.
• This format also facilitates comparability and ease of information collection.

3.3 Module C: Observed Reporting Practices and Perceptions

• Includes a new section (C.2) for reviewing regulatory findings and audit regulator reports.
• Incorporates a perceptions survey (C.3) to gather feedback from users of financial statements.
• Previously, the assessment of actual practices was limited to financial statements review (C.1).
• These additions provide a more holistic view of the financial reporting and auditing environment.

4. Implementation and Future Outlook

• The revised diagnostic tool was tested in Pakistan and Myanmar, with feedback incorporated.
• A feedback mechanism is in place for the first two years of implementation to allow for necessary adjustments.
• The Bank plans to develop a suite of performance indicators to complement the diagnostic tool, enabling objective measurement and tracking of progress.
• Future revisions may include additional modules to address emerging areas such as Islamic finance and other forms of corporate reporting.

5. Strategic Importance

• The ROSC A&A program remains a strategic priority for the World Bank due to its relevance to governance, private sector development, and financial stability.
• The new funding model (from country engagement budget) emphasizes the need to align assessments with national needs and enhance their value proposition.
• The guidelines reflect principles-based approaches and incorporate lessons learned from 15 years of experience and 155 completed assessments.

6. Conclusion

The revised diagnostic tool enhances the comprehensiveness, consistency, and relevance of ROSC A&A assessments. It supports the World Bank's strategic goals, improves alignment with international standards, and provides a more robust framework for evaluating corporate financial reporting and auditing practices in partner countries.