Report on the Observance of Standards and Codes on Accounting and Auditing Update : Republic of Serbia

This report on observance of standards and codes in accounting and auditing (ROSC A & A) provides an assessment of accounting, financial reporting, and auditing requirements and practices within the enterprise and financial sectors of Serbia and sets forth areas of consideration with a view to improving the country’s institutional environment for corporate financial reporting. To assess Serbia’s compliance with standards and codes, this report uses international benchmarks of good practice, including international financial reporting standards (IFRS), international standards on auditing (ISA), the statements of membership obligations (SMO) of the international federation of accountants (IFAC), and - because Serbia is seeking accession to the European Union (EU) - relevant provisions of the EU acquis communautaire (the acquis) governing financial reporting. The assessment focuses on the strengths and weaknesses of the A and A environment that influence the quality of corporate financial reporting, and includes a review of both statutory requirements and actual practice. It updates an earlier assessment published in 2005. ROSC A and A assess accounting and auditing practices in participating countries.

Bibliographic Details

Main Author:	World Bank Group
Format:	Report biblioteca
Language:	English en_US
Published:	World Bank, Vienna 2015-06
Subjects:	INTERNATIONAL ACCOUNTING STANDARDS, EXTERNAL AUDITORS, GOOD PRACTICE, EMPLOYMENT, CAPITAL MARKETS, FINANCIAL SERVICES, ACCOUNTING, EARNINGS PER SHARE, CREDIT APPROVAL, FINANCIAL MANAGEMENT, PRINCIPAL, GOOD PRACTICES, PUBLIC DISCLOSURE, SALES, INTEREST, COMMERCIAL ENTERPRISES, DEPRECIATION, LAWS, FACTORING, GUARANTEES, PRIVATIZATION, DEPRECIABLE ASSETS, NET REALIZABLE VALUE, INDUSTRY, SERVICES, ACCOUNTING FRAMEWORK, TAX COLLECTION, SELLING, IMPACT ASSESSMENT, FINANCIAL STATEMENTS, INCOME STATEMENTS, CAPITAL ADEQUACY, IMPACTS, ACCOUNTING CURRICULUM, DISTRIBUTION, PRICING, BUDGET CONSTRAINTS, ACCRUALS, OWNERSHIP, PLANNING, QUALITY, BUDGETING, ECONOMIC STABILITY, VALUATION OF INVENTORIES, MANAGEMENT REPORTS, LEVEL PLAYING FIELD, REPORTING, CASH FLOWS, MUNICIPALITIES, AUDITS, COST ACCOUNTING, BUDGET, FINANCIAL AUDITS, NET PROFIT, PUBLIC POLICY, ILLIQUIDITY, PENALTIES, COST CONTROL, AUDITORS’ REPORTS, ACCOUNTING POLICIES, PUBLIC ACCOUNTANTS, PRODUCTIVITY, INTEREST RATES, FINANCIAL LEASING, AUDIT RISK, CRITERIA, FINANCIAL INSTITUTIONS, MARKETS, DEBT, FINANCIAL REPORTING, STATE OWNED BANKS, FINANCIAL CRISES, LEGISLATION, DEFICITS, STATUTORY AUDITORS, BUDGET DEFICIT, BUDGET DEFICITS, BUSINESS INFORMATION, ACCOUNTING FIRMS, CHARTS OF ACCOUNTS, FINANCIAL YEARS, LOANS, LABOR, ENTERPRISES, INVENTORY, FINANCIAL SYSTEM, SUBSIDIES, LEGAL FRAMEWORK, ACCOUNT, FINANCE, ADMINISTRATIVE COSTS, INFRASTRUCTURE, TAXES, BANKING SECTOR, BANKS, RESOURCES, EQUITY, AUDITED FINANCIAL STATEMENTS, ACCOUNTANTS, WAGES, AUDITORS, EXPENSES, FINANCIAL STABILITY, SUBSIDIARIES, VALUE, BANK, CREDIT, BUDGETS, PUBLIC ENTERPRISES, ACCOUNTANCY, CAPITALIZATION, MAINTENANCE, FINANCIAL PERFORMANCE, INTERNAL CONTROLS, FOREIGN BANKS, COST, PERFORMANCE ANALYSIS, ACCRUAL ACCOUNTING, BALANCE SHEET, AUDIT ENGAGEMENTS, AUDIT REPORTS, FINANCIAL REPORTING STANDARDS, AUDITORS OPINIONS, QUALITY CONTROL, PUBLIC DEBT, CONSOLIDATED FINANCIAL STATEMENTS, SUBSIDIARY, ADMINISTRATION, GOVERNANCE, INSURANCE, BOOKKEEPING, TAXATION, PARENT COMPANIES, PRUDENTIAL REQUIREMENTS, ACCOUNTING STANDARDS, BUSINESS, RISK, INTERNAL AUDIT, AUDIT EVIDENCE, ACCOUNTING TREATMENT, BUSINESS PLANS, TAX ADMINISTRATION, COOPERATIVES, REVENUE, RISK MANAGEMENT, LENDING, ACCOUNTS, BUSINESS RELATIONSHIPS, QUALITY ASSURANCE, AUDIT, AUDITING STANDARDS, MATURITIES, KEY PERFORMANCE INDICATORS, GOVERNMENTS, ACCOUNTING RECORDS, CIVIL SERVICE, IMPLEMENTATION, ECONOMIC CONDITIONS, AUDITING, FINANCIAL REPORTS, CONSOLIDATION,
Online Access:	http://documents.worldbank.org/curated/en/557921479710152064/Serbia-Report-on-the-Observance-of-Standards-and-Codes-ROSC-on-accounting-and-auditing-update http://hdl.handle.net/10986/25723
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