Public Sector Accounting and Auditing Diagnostic Tools for ComparingCountry Standards to International Standards
PKSubramanian, Lead Financial Management SpecialistWorld Bank, South Asia RegionPsubramanian4@worldbank.org
Abstract
Theassessmentframeworkwasdevelopedin2006bytheWorldBankasadiagnostictooltoassistcountriesinassessing how well their public sector accounting and auditing practices accord with the public sector accounting and auditing standards of the International Federation of Accountants and the InternationalOrganization of Supreme Audit Institutions. The framework uses a set of self-assessment questionnairesfocusing on identifying the gaps in the local standards implemented in each country. It was specificallydevelopedforthecountriesofSouthAsia(Afghanistan,Bangladesh,Bhutan,India,Maldives,Nepal,Pakistanand Sri Lanka).The assessment is at a detailed level to support greater implementation of international standards. A set of sixquestionnaires was used in the survey conducted for this study to collect comparative information on country practices:1
The public sector accounting environment
¯ collecting basic information about financial laws and standards-settingarrangements, educational requirements fo
r accountants compared with International Education Standards (IES),ethical requirements compared with the IFAC Code of Ethics for Professional Accountants.
2
Public sector accounting practices for the general budget sector if using the cash basis of accounting
¯ comparedwith the requirements of the Cash Basis International Public Sector Accounting Standards ().
3
Public sector accounting practices for the general budget sector if using the accrual basis of accounting
¯compared with the requirement
s that govern accrual reporting for the public sector.
4
Public sector auditing environment
¯ compared with the provisions of the INTOSAI Code of Ethics and the
general standards in the INTOSAI Auditing Standards.
5
Public sector auditing practices
¯ com
pared to the requirements of the INTOSAI field standards and reportingstandards, and, as relevant, the IFAC International Standards on Auditing (ISA).6
Accounting and auditing practices for state-owned enterprises
¯ compared with the requirements of the
IFACInternational Financial Reporting Standards (IFRS) and the International Standards on Auditing.
The diagnostic questionnaires are available from The World Bank South Asia Region FinancialManagement Unit, 1818 H Street, NW, Washington DC 20433, USA through PK Subramanian(psubramanian4@worldbank.org).International Journal on Governmental Financial Management - 2008 1
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