Bhutan : Public Sector Accounting and Auditing, A Comparison to International Standards

The objectives of this report are: (a) to provide the country's accounting and audit authorities and other interested stakeholders with a common well-founded knowledge as to where local practices stand in accordance with the internationally developed standards of financial reporting and audit; (b) to assess the prevailing variances; (c) to chart paths to reduce the variances; and (d) to provide a continuing basis for measuring improvements. The analysis in this report has been conducted in light of the strong measures being taken in the Kingdom of Bhutan to reform the accounting and auditing processes. The report addresses several issues such as: adopting international accounting standards in major public enterprises; implementing professional leadership in accounting and financial management; implementing a fully integrated, computerized government accounting system; drafting new acts on public financial management and combating corruption; strengthening the Royal Institute of Management (RIM); and providing training for finance, accounting, and internal audit staff in line ministries and other government agencies, heads of administration and finance divisions, and other managers.

Bibliographic Details

Main Author:	World Bank
Format:	Economic & Sector Work biblioteca
Language:	English en_US
Published:	Washington, DC 2007
Subjects:	ACCESS TO INFORMATION, ACCOUNTANT, ACCOUNTING, ACCOUNTING POLICIES, ACCOUNTING PRACTICES, ACCOUNTING RECORDS, ACCOUNTING STANDARD, ACCOUNTING STANDARDS, ACCOUNTING SYSTEM, ACCOUNTING SYSTEMS, ACCRUAL ACCOUNTING, ACCRUAL BASIS, AFFILIATE, ANNUAL BUDGET, ANNUAL FINANCIAL STATEMENTS, ANNUAL REPORT, ANNUAL REPORTING, ANNUAL REPORTS, APPROPRIATIONS, ARREARS, ARTICLE, ASSET MANAGEMENT, AUDIT FINDINGS, AUDIT OFFICE, AUDIT RESOURCES, AUDIT STANDARDS, AUDITED FINANCIAL STATEMENTS, AUDITING, AUDITING TECHNIQUES, AUDITOR GENERAL, AUDITORS, AUDITS, BALANCE SHEET, BANKS, BENEFIT PLANS, BORROWING, BORROWING COSTS, BORROWINGS, BUDGET ESTIMATES, BUDGET FORMULATION, BUDGET MANAGEMENT, BUDGET MONITORING, BUDGET PERFORMANCE, BUDGET PROPOSAL, BUDGETARY EXPENDITURE, BUDGETARY OPERATIONS, BUDGETING, CASH ACCOUNTING, CASH BASIS, CASH FLOW, CASH FLOW STATEMENTS, CASH POSITION, CIVIL SERVICE, CIVIL SERVICE RULES, CONFLICT OF INTEREST, CONFLICTS OF INTEREST, CONSOLIDATED FINANCIAL STATEMENTS, CONSOLIDATION, CONTINGENT LIABILITIES, CONTRIBUTION, CURRENT ACCOUNT, CURRENT ASSETS, CURRICULA, DECISION-MAKING, DEPOSIT, DEPOSIT ACCOUNT, DEVELOPMENT BANK, DIAGNOSTIC TOOL, DISBURSEMENT, DISBURSEMENTS, DUE DILIGENCE, EARNINGS, EARNINGS PER SHARE, ECONOMIC DEVELOPMENT, EDUCATION PROGRAMS, EDUCATION STANDARDS, ELECTRONIC TRANSFER, EMPLOYEE BENEFITS, EMPLOYMENT, ENABLING ENVIRONMENT, ENTRY REQUIREMENTS, EQUIPMENT, EQUITY PORTFOLIO, EXCHANGE RATES, EXPENDITURE POLICIES, EXPENDITURES, EXTERNAL AUDIT, EXTERNAL AUDITORS, FAIR VALUE, FINANCIAL ACCOUNTABILITY, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL MANAGEMENT, FINANCIAL POSITION, FINANCIAL REGULATIONS, FINANCIAL REPORTING, FINANCIAL REPORTING STANDARDS, FINANCIAL REPORTS, FINANCIAL RESOURCES, FINANCIAL STATEMENT, FINANCIAL STATEMENTS, FINANCIAL SYSTEMS, FISCAL AFFAIRS, FOREIGN EXCHANGE, FRAUD, GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, GOVERNMENT ACCOUNTING, GOVERNMENT ACCOUNTING SYSTEM, GOVERNMENT ACCOUNTS, GOVERNMENT ASSISTANCE, GOVERNMENT AUDITING, GOVERNMENT BUDGET, GOVERNMENT GRANTS, GOVERNMENT SPENDING, HOLDING, HUMAN RESOURCE, INCOME, INCOME TAXES, INDEPENDENT AUDITOR, INFORMATION SYSTEMS, INFORMATION TECHNOLOGY, INSURANCE, INTANGIBLE, INTANGIBLE ASSETS, INTERNAL AUDIT, INTERNAL AUDIT FUNCTION, INTERNAL AUDITS, INTERNAL CONTROL, INTERNAL CONTROL SYSTEMS, INTERNAL CONTROLS, INTERNATIONAL ACCOUNTING STANDARDS, INTERNATIONAL AUDITING STANDARDS, INTERNATIONAL DEVELOPMENT, INTERNATIONAL STANDARD, INTERNATIONAL STANDARDS, INVENTORIES, LAWS, LEGAL FRAMEWORK, LEGISLATION, LEGISLATIVE SCRUTINY, LOAN, LOAN RECOVERIES, MANAGEMENT ACCOUNTING, MEDIUM-TERM DEVELOPMENT, MEDIUM-TERM DEVELOPMENT PLANS, MEMBER COUNTRIES, MINISTRY OF FINANCE, MODEL LAW, MONETARY FUND, NATIONAL ACCOUNTING, NATIONAL ACCOUNTS, NATIONAL AUDIT, NATIONAL BUDGET, NATIONAL FINANCE, NATIONAL GOVERNMENT, NET SURPLUS, ORGANIZATIONAL STRUCTURE, OUTREACH PROGRAMS, OUTSTANDING LOANS, PEER REVIEW, PENALTIES, PENSIONS, PERFORMANCE AUDIT, PERFORMANCE MEASUREMENT, PERFORMANCE MEASURES, PERFORMANCE TARGETS, PRIVATE ENTERPRISES, PROVISIONS, PUBLIC, PUBLIC ACCOUNTABILITY, PUBLIC ACCOUNTS, PUBLIC COMPANIES, PUBLIC ENTERPRISES, PUBLIC EXPENDITURE, PUBLIC FINANCE, PUBLIC FINANCIAL MANAGEMENT, PUBLIC INTEREST, PUBLIC RESOURCES, PUBLIC SECTOR, PUBLIC SECTOR ACCOUNTING, PUBLIC SECTOR ENTITIES, PUBLIC SECTORS, PUBLIC SERVICE, QUALITY ASSURANCE, QUALITY CONTROL, QUESTIONNAIRES, REMITTANCES, RESPONSIBILITIES, RETIREMENT, RETIREMENT BENEFIT, RISK ASSESSMENT, SALARY, SALE, SENIOR, SERVICE ORGANIZATIONS, SETTLEMENT, STAKEHOLDERS, SUBSIDIARY, SUPERVISION ARRANGEMENTS, SUPPORT PROGRAM, SUPREME AUDIT INSTITUTION, SUPREME AUDIT INSTITUTIONS, TRAINING COURSE, TRAINING COURSES, TRAINING PROGRAM, TRANSACTION, TRANSPARENCY, TRUE COSTS, TRUST FUNDS,
Online Access:	http://documents.worldbank.org/curated/en/2007/05/8668439/bhutan-public-sector-accounting-auditing-comparison-international-standards http://hdl.handle.net/10986/6830
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