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Local Public Financial ManagementThis volume provides an overview of local government financial accounting and reporting and where better practices in cash management are documented. The use of transparent procurement processes to mitigate corruption is also elaborated on while practical guidance is imparted on how and when to use debt, how to assess debt affordability, what debt to use, how to issue debt, and how to manage debt. The use of internal controls and audits to ensure efficiency and integrity is highlighted in this volume with particular emphasis on the role of external audit in combating corruption. Audit methods to detect corruption are also presented and discussed. The volume represents a collaborative effort of the Swedish International Development Cooperation Agency and the World Bank Institute to support reform of the public expenditure management and financial accountability systems in developing countries, especially in Africa.
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El Salvador : Accounting and AuditingThis report provides an assessment of accounting and auditing practices within El Salvador's corporate sector. It used International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks, and drew on international experience and good practices in those fields. Both statutory requirements and actual practices were analyzed as part of this review. The purpose of this ROSC is to assist the Government of El Salvador in strengthening the private sector's accounting and auditing practices and financial transparency. The development objectives these efforts address are (a) fostering the growth and accountability of the private sector, (b) ensuring adequate market regulation with respect to the provision of essential services, and (c) making the business environment more attractive for foreign direct investment (FDI). The recommendations of this ROSC are intended to serve as the basis for a country action plan to be developed by the Government of El Salvador in collaboration with in-country stakeholders and with the assistance of the World Bank and other donors.
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Strengthening Financial Reporting Regimes and the Accountancy Profession and Practices in Selected Caribbean CountriesThe main objectives of this report are
 to: (a) provide a synthesized analysis of financial
 reporting and auditing standards and practices across the
 countries in which the Institute of Chartered Accountants of
 the Caribbean (ICAC) is active and (b) provide a basis for
 recommendations to ICAC and respective national institutes
 for a regional strategy to enhance the accounting profession
 and the accounting and auditing practices in the public and
 private sectors. This report’s focus on reforms and
 identification of areas and means to strengthen the
 accounting profession have at their root the conviction that
 systemic enhancements to the standards and practices of the
 profession can materially improve the lives of the region’s
 populace, particularly its less prosperous citizens, through
 greater transparency, strengthened economic growth and its
 attendant employment and tax revenue prospects, and greater
 access to financing for and formalization of the region’s
 dominant sector-micro, small, and medium-sized enterprises
 (MSMEs). The report finds that a constraint limiting both
 investment across the region, particularly to MSMEs that
 characterize the respective national economies, and the
 efficient use of public resources is the accounting and
 auditing practices and the financial reporting regimes that
 prevail in both the public and private sectors. This finding
 emerges from: (i) a review of Reports on the Observance of
 Standards and Codes for Accounting and Auditing (ROSC AA)
 conducted by the World Bank for Jamaica, Trinidad and
 Tobago, Suriname, and the countries of the Organisation of
 Eastern Caribbean States, and (ii) Bank missions to those
 countries updating the ROSC findings as well as missions to
 countries that have not yet had ROSC AA reviews (during
 which the Bank team met the national accountancy body,
 regulators of entities that fall within the financial
 reporting chain, supreme audit institutions, central banks,
 and so forth so as to secure information that would
 typically be found in formal ROSC AA reports).