Poland : Report on the Observance of Standards and Codes on Accounting and Auditing Update
Reports on the Observance of Standards and Codes (ROSC) Accounting and Auditing (AA) assess accounting and auditing practices in participating countries. They form part of a joint initiative that is implemented by the World Bank and the Internatio...
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| Language: | English en_US |
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World Bank, Vienna
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/08/24959852/poland-report-observance-standards-codes-rosc-accounting-auditing-update http://hdl.handle.net/10986/22677 |
| Summary: | Reports on the Observance of Standards
and Codes (ROSC) Accounting and Auditing (AA) assess
accounting and auditing practices in participating
countries. They form part of a joint initiative that is
implemented by the World Bank and the International Monetary
Fund to review the quality of implementation of twelve
internationally recognized core standards (the ROSC
Program). These standards and their related codes are
relevant to economic stability, and private and financial
sector development. The program was developed at the end of
the 1990s, in the wake of financial crises that affected
many countries in several regions of the world. In the case
of the ROSC AA for Poland, the international standards used
as benchmarks are (i) relevant portions of European Union
legislation (also called the acquis communautaire), (ii)
International Financial Reporting Standards (IFRS), (iii)
clarified International Standards on Auditing (ISA), (iv)
the International Federation of Accounts (IFAC) Code of
Ethics, and (v) other international good practice in the
field of accounting and auditing regulation. This is the
third ROSC AA for Poland. The first two were conducted in
2002 and 2005. This report updates the findings of the 2005
report, and assesses the extent to which prior
recommendations have been implemented. Since its inception
in the early 2000s, the ROSC AA program has concluded
evaluations in more than one hundred countries around the
world. ROSC AA reports have been produced for all countries
of the Europe and Central Asia region, except the Russian
Federation. This ROSC AA serves three main objectives: (i)
to support Poland’s development strategy, particularly
regarding the enhancement of economic competitiveness, (ii)
to assess progress achieved under the Financial Reporting
Technical Assistance Program (FRTAP), and (iii) to update
the findings of the 2005 ROSC AA. The FRTAP is a
Swiss-funded program aimed at strengthening accounting and
auditing practices in Poland through the implementation of
high quality standards in these areas. |
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