Croatia : Accounting and Auditing

This report is based on an assisted self-assessment of accounting and auditing standards and practices in Croatia conducted under the management of a National Steering Committee consisting of representatives form government and the private sector. The self-assessment exercise, complemented by due diligence by Bank staff, specifically focused on the strengths and weaknesses of the institutional arrangements needed for the observance of International Accounting Standards (IAS) and International Standards of Auditing (ISA). The Accounting Act was amended in 1992 in order to adopt a more investor oriented approach. The Act took the important step of requiring all companies to prepare IAS financial statements. The Audit Law requires that the audit should be carried out by a certified auditor licensed under authority granted by the Ministry of Finance (MOF) and in accordance with ISA.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2002-06-20
Subjects:	ACCOUNTABILITY, ACCOUNTING, ACCOUNTING POLICIES, ACCOUNTING STANDARDS, AUDITING, AUDITING STANDARDS, AUDITORS, AUDITS, BALANCE SHEET, BANK ACCOUNTS, BANK LENDING, BANKS, CAPITAL MARKET, CASH FLOW, CHARTERED ACCOUNTANTS, COMPANY, COMPANY LAW, CONSOLIDATED FINANCIAL STATEMENTS, CROATIAN NATIONAL BANK, DRAFT LAW, DUE DILIGENCE, DUE DILIGENCE PROCESS, ECONOMICS, EQUITY CAPITAL, EXTRAORDINARY ITEMS, FINANCIAL ASSETS, FINANCIAL EXPERTS, FINANCIAL INFORMATION, FINANCIAL REPORTING, FIRMS, FOREIGN INVESTORS, GOVERNMENT CONTROL, INSTITUTIONAL FRAMEWORK, INSURANCE, INSURANCE COMPANIES, INSURANCE INDUSTRY, INTERNATIONAL ACCOUNTING STANDARDS, INTERNATIONAL STANDARDS, JOINT STOCK, JOINT STOCK COMPANIES, LAWS, LEGAL FORM, LEGISLATION, LIMITED LIABILITY, LISTED COMPANIES, MANDATES, PENALTIES, PERCENTAGE OF COMPLETION METHOD, PRIVATE SECTOR, PRIVATIZATION, PRIVATIZATION FUNDS, PRIVATIZATION INVESTMENT FUNDS, PRIVATIZATION PROGRAM, PUBLIC DISCLOSURE, PUBLIC INTEREST, REGULATORY AGENCIES, REGULATORY AUTHORITY, REGULATORY BODIES, REGULATORY FUNCTIONS, SECURITIES, SECURITIES MARKETS, SMALL FIRMS, SME, STAKEHOLDERS, STOCK EXCHANGE, STOCK EXCHANGES, TAX ADMINISTRATION, TAXATION, TRANSPARENCY, UNLISTED COMPANIES,
Online Access:	http://documents.worldbank.org/curated/en/2002/06/6569643/croatia-report-observance-standards-codes-rosc-accounting-auditing https://hdl.handle.net/10986/14499
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