Description: Republic of Mauritius : Accounting and Auditing

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Republic of Mauritius : Accounting and Auditing

This report is part of the Bank and International Monetary Fund joint initiative on Reports on the Observance of Standards and Codes (ROSC). The ROSC- Accounting & Auditing review process involved an assessment of local accounting and auditing...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington DC 2013
Subjects:	ACCOUNTING ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING RECORDS ACCOUNTING STANDARDS ACCOUNTING TREATMENT AFFILIATE AFFILIATES AUDITED FINANCIAL STATEMENTS AUDITING AUDITORS AUDITS BANK OF MAURITIUS BANKING SUPERVISION BORROWING BORROWING COSTS CAPITALIZATION COMMERCIAL BANKS CONSOLIDATED FINANCIAL STATEMENTS CORPORATE GOVERNANCE DEBENTURES DEBT EXTERNAL AUDITORS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL SERVICES FOREIGN BANKS GROSS DOMESTIC PRODUCT INSURANCE INTANGIBLE ASSETS INTERNATIONAL ACCOUNTING STANDARDS LAWS LEGISLATION LEGISLATIVE FRAMEWORK LITIGATION PENALTIES PENSIONS PROFITABILITY PROVISIONING PROVISIONS PRUDENTIAL REGULATIONS PUBLIC PUBLIC COMPANIES REGULATORY FRAMEWORK RETIREMENT SECURITIES SUBSIDIARIES TAX TAX ADMINISTRATION TAX LAW TRANSPARENCY
Online Access:	http://documents.worldbank.org/curated/en/2003/04/6572784/report-observance-standards-codes-rosc-mauritius-accounting-auditing http://hdl.handle.net/10986/14551

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Summary:	This report is part of the Bank and International Monetary Fund joint initiative on Reports on the Observance of Standards and Codes (ROSC). The ROSC- Accounting & Auditing review process involved an assessment of local accounting and auditing standards, and actual practices and analysis of effectiveness of the mechanisms for ensuring compliance with the formal standards. The review used a diagnostic template developed by the Bank to facilitate a self-assessment by a National Steering Committee established by the Minister of Economic Development, Financial Services, and Corporate Affairs. The self-assessment results, complemented by the findings of a due diligence exercise conducted by Bank staff, were used in preparing this report. The policy recommendations of this report specifically focus on strengthening the monitoring and enforcement arrangements through a proposed Financial Reporting Council. This body will develop, and disseminate guidelines on international accounting and auditing standards, monitor compliance with financial reporting requirements, conduct practice review of the auditors and audit firms, and enforce actions against infractions. For expediting the implementation of IAS and ISA, there is a need for bolstering professional education and training arrangements.