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Republic of Tunisia : Accounting and AuditingThis report provides an assessment of accounting, financial reporting, and auditing requirements and practices within the enterprise and financial sectors in Tunisia. The analysis of practices is based among others on the review of a sample of 16 financial statements prepared in accordance with Tunisian accounting standards, including 6 listed enterprise sector companies, 3 listed credit institutions and 3 insurance undertakings (of which 2 are listed). The assessment uses 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 and draws on international experience and good practices in the field of accounting and audit regulation. As Tunisia deepens its partnership with the EU and becomes more integrated in the world market, the country monitors the development of the acquis communautaire and enacts legislation that draws upon it. This report recommends changes to law and regulations to align the statutory framework with evolving internationally accepted practices. As the new regulations come into force, priorities will then turn toward building the monitoring, supervisory, and disciplinary regimes necessary to ensure effective compliance.
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Accounting and AuditingThis assessment of accounting and
 auditing practices in Ukraine is part of a joint initiative
 of the World Bank and International Monetary Fund (IMF) to
 prepare Reports on the Observance of Standards and Codes
 (ROSC). The assessment focuses on the strengths and
 weaknesses of the accounting and auditing environment that
 influence the quality of corporate financial reporting and
 includes both a review of both mandatory requirements and
 actual practice. The report uses International Financial
 Reporting Standards (IFRS) and International Standards on
 Auditing (ISA) as benchmarks and draws on international
 experience and good practice in the field of accounting and
 auditing regulation. All the key economic sectors in Ukraine
 rely on high quality financial information, which requires
 high quality private sector accounting and auditing. As
 Ukraine moves towards further reforms, liberalization and
 deregulation in efforts to foster an investment-friendly
 business environment enhanced financial transparency and
 improved accounting and auditing practices must support
 this. In this context, this report sets out policy
 recommendations to enhance the quality of corporate
 financial reporting and foster a financial reporting
 platform conducive to sustainable private and financial
 sector growth, thus increasing access to global financial
 markets and other tools of the market economy.
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Argentina - Report on the Observance of Standards and Codes (ROSC) : Accounting and AuditingStrengthening corporate financial
 reporting is important for Argentina, as the country seeks
 to foster confidence in the local business community in
 order to stimulate investments, both local and foreign. In
 addition, strong corporate accounting practices enable local
 banks and financial institutions to monitor adequately their
 businesses risks, credit and otherwise, which is essential
 at a time when the Argentine banking sector emerges from the
 crisis triggered by the events of December 2001. Sound
 accounting and auditing is therefore essential to the
 stability of Argentina's banking sector. This report
 analyzes Argentina's corporate financial reporting and
 auditing practices with a view to supporting the
 Government's strategy to: (a) improve the investment
 climate for Argentine companies; (b) foster trade
 competitiveness by aligning the standards of reporting and
 governance with practices that are prevalent among the
 country's main trading partners; and (c) ensure greater
 transparency in both the private and public sectors.
 International Financial Reporting Standards (IFRS),
 International Standards on Auditing (ISA) and good
 international practice, particularly among the other large
 countries in Latin America, have been used as benchmarks for
 this exercise. A study of corporate governance practices was
 conducted in parallel, which findings complement those of
 the Report on the Observance of Standards and Codes (ROSC)
 accounting and auditing.