Description: Maldives : Public Sector Accounting and Auditing, A Comparison to International Standards

Maldives : Public Sector Accounting and Auditing, A Comparison to International Standards

This assessment of public sector accounting and auditing standards is generally meant to assist with the implementation of more effective public financial management (PFM) through better quality accounting and public audit processes in Maldives. It...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNT ACCOUNTABLE GOVERNMENT ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING FIRMS ACCOUNTING POLICIES ACCOUNTING PRACTICES ACCOUNTING STANDARDS ACCOUNTING SYSTEM ACCOUNTS ACCRUAL ACCOUNTING ACCRUAL BASIS ACCURATE INFORMATION ADMINISTRATIVE FRAMEWORK ANNUAL FINANCIAL STATEMENTS ANNUAL PERFORMANCE ANNUAL REPORT ANNUAL REPORTING ANNUAL REPORTS ANNUAL STATEMENT ANNUAL STATEMENTS ARTICLE ATTESTATION AUDIT DEPARTMENTS AUDIT ENGAGEMENTS AUDIT EVIDENCE AUDIT OFFICE AUDIT REPORTS AUDITED ACCOUNTS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITOR GENERAL AUDITOR-GENERAL AUDITORS AUDITS BALANCE SHEET BANKS BENEFIT PLANS BONDS BORROWING BORROWINGS BUDGET MANAGEMENT BUDGETING BUSINESS COMBINATIONS CAPACITY BUILDING CAPACITY-BUILDING CASH BASIS CASH FLOW CASH FLOWS CASH POSITION CHART OF ACCOUNTS COMPUTERIZED ACCOUNTING SYSTEMS CONFIRMATIONS CONFLICT OF INTEREST CONTINGENT LIABILITIES CONTRIBUTION CURRENT PROGRAMS CURRICULA DEBT DECISION-MAKING DELIVERY OF SERVICES DEPRECIATION DEVELOPMENT BANK DIAGNOSTIC TOOL DISCLOSURE OF INFORMATION DISTANCE LEARNING DUE DILIGENCE EARNINGS ECONOMIC DEVELOPMENT EDUCATION PROGRAMS EDUCATION STANDARDS EMPLOYEE BENEFITS EXCHANGE RATES EXPENDITURE EXPENDITURE POLICIES EXPENDITURES EXTERNAL AUDIT FINANCIAL ACCOUNTABILITY FINANCIAL ACTIVITIES FINANCIAL APPROACH FINANCIAL COMPLIANCE FINANCIAL IMPACT FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL POSITION FINANCIAL REGULATIONS FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL REPORTS FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEMS FISCAL AFFAIRS FISCAL POSITION FOREIGN CURRENCY FOREIGN EXCHANGE GOOD PRACTICE GOVERNMENT ACCOUNTING GOVERNMENT ASSISTANCE GOVERNMENT AUDITING GOVERNMENT BUDGET GOVERNMENT EMPLOYMENT GOVERNMENT GRANTS GOVERNMENT SPENDING INCOME INCOME TAXES INDEPENDENT AUDITOR INSURANCE INTANGIBLE ASSETS INTERNAL AUDIT INTERNAL AUDITING INTERNAL CONTROL INTERNAL CONTROL SYSTEMS INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS LIABILITY LOAN MEMBER COUNTRIES MINISTRY OF FINANCE MONEYS NATIONAL ACCOUNTING NATIONAL AUDIT NATIONAL GOVERNMENT NET SURPLUS OUTREACH PROGRAMS PENSIONS PERFORMANCE AUDIT PERFORMANCE INDICATORS PERFORMANCE MEASUREMENT PERFORMANCE MEASURES PERFORMANCE TARGETS PRIVATE SECTOR PROGRAM MANAGERS PROGRAMS PROVISION OF GOODS PUBLIC ACCOUNTABILITY PUBLIC ACCOUNTING PUBLIC ACCOUNTS PUBLIC DISCLOSURE PUBLIC ENTERPRISE PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC INTEREST PUBLIC MONEY PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SECTOR ENTITIES PUBLIC SERVICE QUALITY ASSURANCE QUALITY CONTROL QUESTIONNAIRES REPAYMENT REPORTING SYSTEMS RESPONSIBILITIES RETIREMENT RETIREMENT BENEFIT RISK ASSESSMENTS SALARIES SALARY SALE SALES SECURITIES SENIOR SERVICE ORGANIZATIONS SOUND FINANCIAL MANAGEMENT SOUND FINANCIAL PRACTICES STAKEHOLDERS SUPPORT PROGRAM SUPREME AUDIT INSTITUTION SUPREME AUDIT INSTITUTIONS TERMINATION TERMINATIONS TRAINING COURSE TRAINING PROGRAM TRAINING PROGRAMS TRANSPARENCY TRUE COSTS
Online Access:	http://documents.worldbank.org/curated/en/2007/06/8668011/maldives-public-sector-accounting-auditing-comparison-international-standards http://hdl.handle.net/10986/6791

Description
Summary:	This assessment of public sector accounting and auditing standards is generally meant to assist with the implementation of more effective public financial management (PFM) through better quality accounting and public audit processes in Maldives. It is intended to provide greater stimulus for more cost-effective outcomes of government spending. The specific objectives are (a) to provide the country's accounting and audit authorities and other interested stakeholders with a common well-based knowledge as to where local practices stand in comparison with internationally developed standards of financial reporting and audit; (b) to assess the causes of the prevailing variances; (c) to chart paths to reduce the variances; and (d) to provide a continuing basis for measuring improvements. Annex A explains the methodology used for the study. Annex B provides a summary of international accounting and auditing standards referred to in this study. Annex C and D provide country accounting and auditing legislation, respectively. Lastly, Annex E includes a description of the benefits of accrual accounting. The World Bank is supporting initiatives to develop local systems so that donors can increase their use of country systems for their own grants and loans.

Maldives : Public Sector Accounting and Auditing, A Comparison to International Standards

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