West Bank and Gaza : Report on the Observance of Standards and Codes - Accounting and Auditing

This Report on the Observance of Standards and Codes for Accounting and Auditing (ROSC A&A) is a part of the World Bank (WB) and International Monetary Fund (IMF) joint initiative to review countries use of 12 internationally recognized standards/codes related to economic stability and private and financial sector development, including evaluating the country's accounting and auditing practices based on internationally recognized benchmarks and, based on that review, to make policy recommendations to help it bridge the gaps between current practices and those considered adequate. ROSC policy recommendations are intended to help strengthen a country's financial architecture, attract more foreign direct investment and foreign portfolio investment, and mobilize domestic savings, which, in turn, would allow for pension savings. In addition, improved financial reporting allows investors to better evaluate corporate prospects and make informed investment and voting decisions, which results in a lower cost of capital and a better allocation of capital and resources. Financial reporting is also the bedrock of corporate governance, allowing shareholders and the public at large to monitor management's performance. The formal financial sector in World Bank and Group (WB&G) emerged after the signing of the Oslo accord in 1993 and the Paris protocol in 1994. The Paris protocol provided Palestinians the authority to administer monetary and financial affairs in order to support expected economic growth. Those expectations were never fully realized because of ongoing tension among stakeholders, political instability and restrictions on the mobility of persons and goods.

Bibliographic Details

Main Author:	World Bank
Format:	Accounting and Auditing Assessment (ROSC) biblioteca
Language:	English
Published:	World Bank 2010-07-01
Subjects:	ACCEPTABLE COLLATERAL, ACCESS TO FINANCING, ACCOUNT, ACCOUNTABILITY, ACCOUNTANCY, ACCOUNTANT, ACCOUNTANTS, ACCOUNTING, ACCOUNTING POLICIES, ACCOUNTING PRINCIPLES, ACCOUNTING RULES, ACCOUNTING SERVICES, ACCOUNTING TREATMENT, ACCUMULATED DEPRECIATION, AFFILIATES, ALLOCATION OF CAPITAL, ARREARS, AUDIT COMMITTEE, AUDIT REPORTS, AUDITED FINANCIAL STATEMENTS, AUDITING, AUDITING PRINCIPLES, AUDITING PROFESSION, AUDITING STANDARDS, AUDITOR ROTATION, AUDITORS, AUDITS, BALANCE SHEET, BANK LOAN, BANKING INSTITUTIONS, BANKING LAW, BANKING SECTOR, BANKING SUPERVISION, BANKING SYSTEM, BANKS, BOOK VALUE, BOOKKEEPING, BUDGETARY SUPPORT, BUSINESS ADMINISTRATION, BUSINESS COMMUNITY, CAPITAL MARKET, CAPITAL MARKETS, CAPITAL REQUIREMENTS, CAPITALIZATION, CASH FLOW, CASHFLOW, CERTIFIED PUBLIC ACCOUNTANTS, CHECKS, COMMERCIAL BANKS, COMPANY LAW, COMPANY LAWS, CONTINGENT LIABILITIES, CORPORATE BORROWERS, CORPORATE GOVERNANCE, COST OF CAPITAL, CREDIT BUREAU, CURRENCY, CURRENT ASSETS, DEVELOPING COUNTRIES, DISCLOSURE REQUIREMENTS, DUE DILIGENCE, EARNINGS PER SHARE, ECONOMIC STABILITY, ENTRY REQUIREMENTS, EQUIPMENT, EXTERNAL AUDITORS, FAIR VALUE, FAIR VALUES, FINANCIAL ASSETS, FINANCIAL CRISIS, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL MANAGEMENT, FINANCIAL MARKET, FINANCIAL POLICIES, FINANCIAL REPORTING, FINANCIAL REPORTING STANDARDS, FINANCIAL REPORTS, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL SERVICES, FINANCIAL STATEMENT, FINANCIAL STATEMENTS, FINANCIAL TRANSACTIONS, FOREIGN DIRECT INVESTMENT, FOREIGN PORTFOLIO INVESTMENT, FUTURE CASH FLOWS, GAAP, GOOD PRACTICE, GOOD PRACTICES, GOVERNANCE STANDARDS, HOLDING, IMAGE, INADEQUATE DISCLOSURE, INCOME TAX, INCOME TAXES, INFORMATION SYSTEM, INSTITUTIONAL INVESTOR, INSURANCE, INSURANCE COMPANIES, INSURANCE COMPANY, INSURANCE INDUSTRY, INSURANCE PRODUCTS, INTEREST RATE, INTERNAL AUDITORS, INTERNAL CONTROLS, INTERNATIONAL ACCOUNTING STANDARDS, INTERNATIONAL BANK, INTERNATIONAL STANDARD, INTERNATIONAL STANDARDS, INVENTORIES, INVESTMENT ACTIVITIES, INVESTMENT CLIMATE, INVESTMENT FUND, ISLAMIC BANKING, ISLAMIC FINANCE, ISLAMIC FINANCIAL INSTITUTIONS, ISSUANCE, LAWS, LEGAL FRAMEWORK, LEGISLATION, LETTERS OF CREDIT, LIMITED LIABILITY, LIMITED PARTNERSHIP, LOAN GUARANTEE, LOCAL CURRENCY, LOSS STATEMENT, LOSS STATEMENTS, MANDATES, MARKET ACCESS, MARKET CAPITALIZATION, MARKET DEVELOPMENT, MARKET ECONOMY, MARKET TRADING, MARKET VALUE, MICRO FINANCE, MICRO-FINANCE, MICRO-FINANCE INSTITUTIONS, MONETARY AUTHORITY, MONETARY FUND, MUNICIPALITIES, NET REALIZABLE VALUE, NEW PRODUCTS, OPEN MARKET, OPERATING COSTS, OPERATING LEASES, ORIGINAL AMOUNTS, PENALTIES, PENSION, PENSION FUNDS, PENSIONS, PORTFOLIO, PRIVATE INVESTMENT, PUBLIC INVESTMENT, PUBLIC RELATIONS, PURCHASING, PURCHASING POWER, QUALITY ASSURANCE, QUALITY CONTROL, RECURRENT EXPENDITURES, REGULATORY FRAMEWORK, REGULATORY INFRASTRUCTURE, REMITTANCES, RETIREMENT, RETURN, RETURNS, REVALUATION SURPLUS, RISK MANAGEMENT, SALES, SAVINGS, SAVINGS ACCOUNTS, SECURITIES, SECURITIES EXCHANGE, SECURITIES LAW, SECURITIES MARKET, SECURITIES MARKET LAW, SELLING, SHAREHOLDERS, SHAREHOLDERS´ EQUITY, STOCK EXCHANGE, STOCK EXCHANGES, SUBSIDIARIES, SUBSTITUTES, SUPERVISORY FRAMEWORK, TAX, TAX ADMINISTRATION, TAX BENEFITS, TAX RATES, TECHNICAL ASSISTANCE, TELECOMMUNICATIONS, TRADE FINANCE, TRADE FINANCING, TRADING, TRADING SYSTEMS, TRANSACTION, TRANSPARENCY, TREASURY, TURNOVER, VALUATION,
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000020439_20100903114004 http://hdl.handle.net/10986/2898
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