Republic of Tunisia : Accounting and Auditing

This report provides an assessment of accounting, financial reporting, and auditing requirements and practices within the enterprise and financial sectors in Tunisia. The analysis of practices is based among others on the review of a sample of 16 financial statements prepared in accordance with Tunisian accounting standards, including 6 listed enterprise sector companies, 3 listed credit institutions and 3 insurance undertakings (of which 2 are listed). The assessment uses International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), and the relevant portions of European Union (EU) law (also known as the acquis communautaire) as benchmarks and draws on international experience and good practices in the field of accounting and audit regulation. As Tunisia deepens its partnership with the EU and becomes more integrated in the world market, the country monitors the development of the acquis communautaire and enacts legislation that draws upon it. This report recommends changes to law and regulations to align the statutory framework with evolving internationally accepted practices. As the new regulations come into force, priorities will then turn toward building the monitoring, supervisory, and disciplinary regimes necessary to ensure effective compliance.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2006-10
Subjects:	ACCOUNT, ACCOUNTABILITY, ACCOUNTANCY, ACCOUNTANT, ACCOUNTANTS, ACCOUNTING, ACCOUNTING DOCUMENTS, ACCOUNTING PERIODS, ACCOUNTING POLICIES, ACCOUNTING PRINCIPLES, ACCOUNTING RECORDS, ACCOUNTING STANDARD, ACCOUNTING STANDARDS, ACCOUNTING TREATMENT, ACCOUNTS, AFFILIATED COMPANIES, AFFILIATES, ASSESSMENT PROCEDURES, ASSET VALUE, AUDIT COMMITTEE, AUDIT REPORTS, AUDITED FINANCIAL STATEMENTS, AUDITING, AUDITING STANDARDS, AUDITORS, AUDITS, BAD DEBT, BAD DEBT LOSSES, BALANCE SHEET, BALANCE SHEETS, BANK ACCOUNTING, BANK ASSETS, BANKING SECTOR, BANKING SUPERVISION, BENEFICIARIES, BEST PRACTICES, BOND, BORROWER, BORROWING, BOURSE, BROKER, BUDGETING, CALCULATION, CAPACITY BUILDING, CAPITAL FUNDS, CAPITAL MARKET, CAPITAL MARKETS, CASH FLOW, CENTRAL BANK, CENTRAL BANK OF TUNISIA, COLLATERAL, COLLECTIVE INVESTMENT, COMMERCIAL BANKS, COMMERCIAL CODE, COMPANY LAW, COMPLIANCE GAP, CONFLICTS OF INTERESTS, CONSOLIDATED FINANCIAL STATEMENTS, CONSOLIDATION, CONTRIBUTION, CORPORATE BORROWERS, CORPORATE GOVERNANCE, COST OF CAPITAL, CREDIBILITY, CREDIT INSTITUTION, CREDIT INSTITUTIONS, CREDITORS, CUSTODY, DEBT, DEBT SECURITIES, DEBT SERVICE, DEBTOR, DEBTS, DEPOSITORS, DEPRECIATION, DEVELOPMENT BANK, DISCLOSURE REQUIREMENTS, DISCOUNTED CASH FLOW, EARNINGS, EARNINGS PER SHARE, EDUCATION STANDARD, EDUCATION STANDARDS, EMPLOYMENT, ENFORCEABILITY, EQUALIZATION, EQUITY SECURITY, EQUITY STAKES, EQUITY SWAP, EXCHANGE RATES, FACTORING, FAIR VALUE, FINANCIAL ACCOUNTING, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENT, FINANCIAL INSTRUMENTS, FINANCIAL MANAGEMENT, FINANCIAL MARKET, FINANCIAL MARKETS, FINANCIAL PERFORMANCE, FINANCIAL POSITION, FINANCIAL RATIOS, FINANCIAL RELATIONSHIPS, FINANCIAL REPORTING, FINANCIAL REPORTING STANDARDS, FINANCIAL RESTRUCTURING, FINANCIAL SECTOR, FINANCIAL SECTORS, FINANCIAL SECURITY, FINANCIAL SITUATION, FINANCIAL STATEMENT, FINANCIAL STATEMENTS, FINANCIAL SYSTEM, FIXED ASSETS, FOREIGN CURRENCY, FOREIGN DIRECT INVESTMENT, FOREIGN EQUITY, FOREIGN EXCHANGE, FOREIGN INVESTMENT, FUTURE CASH FLOWS, GENERAL PUBLIC, GOOD PRACTICES, GROSS DOMESTIC PRODUCT, HOLDINGS, INCOME, INCOME TAXES, INDIVIDUAL INVESTORS, INFORMATION SYSTEMS, INSTITUTIONAL CAPACITY, INSTITUTIONAL INVESTORS, INSURANCE, INSURANCE COMPANIES, INSURANCE COMPANY, INSURANCE POLICY, INSURANCE PREMIUMS, INTEREST RATE, INTERNAL CONTROLS, INTERNATIONAL ACCOUNTING STANDARDS, INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE, INTERNATIONAL STANDARDS, INVESTMENT FUND, INVESTMENT FUNDS, JOB CREATION, JOINT STOCK COMPANIES, JOINT STOCK COMPANY, LARGE COMPANIES, LARGE ENTERPRISES, LAWS, LEASE PAYMENTS, LEGAL ADVICE, LEGAL TRADITION, LEGAL TRADITIONS, LEGISLATION, LENDERS, LENDING DECISION, LENDING DECISIONS, LEVY, LIABILITY ARRANGEMENTS, LIABILITY SIDE, LIFE INSURANCE, LIFE INSURANCE POLICIES, LIMITED LIABILITY, LOAN, MARKET CAPITALIZATION, MARKET PARTICIPANTS, MARKET REQUIREMENTS, MARKET TRANSPARENCY, MARKET VALUE, MARKETING, MEDIUM ENTERPRISES, MERCHANT BANKS, MICRO ENTERPRISES, MICRO-ENTERPRISES, MONETARY FUND, NET ASSET, OFFSHORE BANKS, OUTSTANDING DEBT, PARENT COMPANIES, PARENT COMPANY, PENALTIES, PENSION, PENSION FUNDS, PORTFOLIO, PORTFOLIO INVESTMENT, PRESENT VALUE, PRIVATIZATION, PROCUREMENT, PROFITABILITY, PROTECTION OF INVESTORS, PRUDENTIAL REQUIREMENTS, PUBLIC ENTERPRISES, PUBLIC OFFERING, PUBLIC SAVING, PUBLIC SAVINGS, PURCHASING, QUALITY ASSURANCE, REAL ESTATE, REGULATORY FRAMEWORK, REGULATORY STANDARDS, RESERVE, RESERVES, RETURNS, SECURITIES, SECURITIES MARKET, SELF-REGULATION, SHARE CAPITAL, SHAREHOLDER, SHAREHOLDERS, STAKEHOLDER, STAKEHOLDERS, STATUTORY AUDITORS, STOCK EXCHANGE, STOCK MARKET, STOCKS, SUBSIDIARIES, SUPERVISORY BOARD, TANGIBLE ASSETS, TAX, TAX RULES, TAXABLE INCOME, TAXATION, TOTAL COSTS, TRANSPARENCY, TURNOVER, VALUATION, WORLD MARKET,
Online Access:	http://documents.worldbank.org/curated/en/2006/10/10038415/republic-tunisia-report-observance-standards-codes-rosc-accounting-auditing https://hdl.handle.net/10986/8145
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