Poland

Reports on the Observance of Standards and Codes (ROSC) Accounting and Auditing (AA) assess accounting and auditing practices in participating countries. They form part of a joint initiative that is implemented by the World Bank and the International Monetary Fund to review the quality of implementation of twelve internationally recognized core standards (the ROSC Program). These standards and their related codes are relevant to economic stability, and private and financial sector development. The program was developed at the end of the 1990s, in the wake of financial crises that affected many countries in several regions of the world. In the case of the ROSC AA for Poland, the international standards used as benchmarks are (i) relevant portions of European Union legislation (also called the acquis communautaire), (ii) International Financial Reporting Standards (IFRS), (iii) clarified International Standards on Auditing (ISA), (iv) the International Federation of Accounts (IFAC) Code of Ethics, and (v) other international good practice in the field of accounting and auditing regulation. This is the third ROSC AA for Poland. The first two were conducted in 2002 and 2005. This report updates the findings of the 2005 report, and assesses the extent to which prior recommendations have been implemented. Since its inception in the early 2000s, the ROSC AA program has concluded evaluations in more than one hundred countries around the world. ROSC AA reports have been produced for all countries of the Europe and Central Asia region, except the Russian Federation. This ROSC AA serves three main objectives: (i) to support Poland’s development strategy, particularly regarding the enhancement of economic competitiveness, (ii) to assess progress achieved under the Financial Reporting Technical Assistance Program (FRTAP), and (iii) to update the findings of the 2005 ROSC AA. The FRTAP is a Swiss-funded program aimed at strengthening accounting and auditing practices in Poland through the implementation of high quality standards in these areas.

Bibliographic Details

Main Author:	World Bank Group
Format:	Report biblioteca
Language:	English en_US
Published:	World Bank, Vienna 2015-08-27
Subjects:	INTERNATIONAL ACCOUNTING STANDARDS, CONTINGENT LIABILITIES, HOLDING, ACCOUNTING, BUSINESS COMMUNITY, VALUATION, INTEREST, DEPRECIATION, OPTION, SUPERVISORY BOARD, REVENUES, IMPACT ASSESSMENT, PORTFOLIO, INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE, BARRIER TO ENTRY, IMPACTS, FINANCIAL STATEMENT, MUTUAL FUNDS, QUALITY, AUDIT COMMITTEE, INSTRUMENTS, INSURANCE MARKET, AUDITS, FINANCIAL PLANS, INSURANCE COMPANY, MARKET PARTICIPANTS, ENFORCEMENT MECHANISMS, CURRENCY, LEGAL PROVISIONS, FINANCIAL INSTITUTION, COMMERCIAL BANK, COOPERATIVE BANKS, ACCOUNTING POLICIES, INVESTMENT FUNDS, MONETARY FUND, FINANCIAL INSTITUTIONS, FINANCIAL REPORTING, BROKERAGE HOUSES, CAPITAL MARKET, MARKETS, FINANCIAL CRISES, FINANCIAL FLOWS, STATUTORY AUDITORS, FIDUCIARY RESPONSIBILITIES, COMPANY LAW, BORROWING COSTS, PENSION FUNDS, LEGAL FRAMEWORK, FLOATING EXCHANGE RATE, BANKING SECTOR, RESOURCES, TRANSACTIONS, DEPOSITORS, INTERNATIONAL STANDARDS, GOOD, EXPENSES, AUDITORS, INTERNATIONAL TRADE, PUBLIC OFFERINGS, TRANSPARENCY, MARKET CAPITALIZATION, FUTURE, FOREIGN DIRECT INVESTMENT, EXCHANGES, CAPITALIZATION, PUBLIC ACCOUNTING, COST, ACCOUNTANT, SHARES, AUDIT REPORTS, JOINT-STOCK COMPANIES, SECURITIES, ACCOUNTING STANDARD, SOLVENCY, TREASURY, INSURANCE, SHAREHOLDERS, PARENT COMPANIES, ACCOUNTING STANDARDS, BUSINESS, ACCOUNTING TREATMENT, FINANCIAL ASSETS, ACCOUNTS, QUALITY ASSURANCE, AUDIT, INSURANCE COMPANIES, BANKING LAW, INVESTMENT CAPITAL, AUDITING PROFESSION, LIMITED LIABILITY, LIABILITIES, STOCK EXCHANGES, FINANCIAL SECTOR DEVELOPMENT, CASH FLOW, GOOD PRACTICE, DEPOSIT, CAPITAL MARKETS, BROKERAGE, LIABILITY, CAPITAL FUNDS, FINANCIAL MANAGEMENT, STOCK, INFORMATION TECHNOLOGY, MARKET SUPERVISION, SUPERVISORY AUTHORITY, LIFE INSURANCE, EXCHANGE, BALANCE OF PAYMENTS, BANKING SYSTEM, PAYMENT SYSTEM, LIQUIDITY, FINANCIAL STATEMENTS, TAX, INCOME TAX, PLANNING, MARKET INFRASTRUCTURE, RESERVE, BENEFICIARIES, REPORTING, CREDITORS, INTERNATIONAL BANK, PENSION, ACCOUNTING SERVICES, BUDGET, INITIAL PUBLIC OFFERINGS, CREDIT UNIONS, CONTRACTS, GUARANTEE FUND, TRADING, ACCOUNTING RULES, CRITERIA, DIRECT INVESTMENT, RESERVES, GROSS DOMESTIC PRODUCT, FINANCIAL SYSTEM, ACCOUNT, FINANCE, TAXES, EXPENDITURE, CREDIT LINE, EQUITY, GAAP, INVESTORS, TRANSACTION, AUDITED FINANCIAL STATEMENTS, ACCOUNTANTS, FINANCIAL CRISIS, CONTRACTUAL RELATIONSHIPS, QUALITY STANDARDS, ACCOUNTANCY, INVESTOR CONFIDENCE, FINANCIAL INSTRUMENTS, CONTRACT, EXPENDITURES, INSURANCE INDUSTRY, BALANCE SHEET, MARKET, TRANSACTION COSTS, FINANCIAL REPORTING STANDARDS, QUALITY CONTROL, BOOKKEEPING, INSURANCE PREMIUMS, IMPACT ANALYSIS, INTERESTS, INVESTOR, MARKET SHARE, SECURITY, FINANCIAL MARKET, AUDIT COMMITTEES, LOSS STATEMENT, INVESTMENT, NATIONAL BANK, STOCK EXCHANGE, CIVIL LAW, SHARE, INTERNAL AUDIT, FINANCIAL INFORMATION, FINANCIAL MARKETS, BUSINESS PLANS, PROFIT, INVESTMENTS, AUDITOR ROTATION, BANK GUARANTEE, AUDITING STANDARDS, BANKING SECTOR ASSETS, MACROECONOMIC POLICIES, EXCHANGE RATE, CAPITAL MARKET INFRASTRUCTURE, CUSTOMERS, PROFITS, IMPLEMENTATION, GUARANTEE, AUDITING, CORPORATE GOVERNANCE,
Online Access:	http://documents.worldbank.org/curated/en/2015/08/24959852/poland-report-observance-standards-codes-rosc-accounting-auditing-update https://hdl.handle.net/10986/22677
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