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Accounting for growth in Latin America and the Caribbean : improving corporate financial reporting to support regional economic development (Inglês)

In the Latin America and Caribbean (LAC) region, as in the rest of the world, reliable financial information is the cornerstone of a robust market economy and efficient public sector. This book presents both an analysis of the broader trends derived from the individual country-level studies produced under the Report on the Observance of Standards and Codes (ROSC) Accounting and Auditing (A&A) program and a synthesis of lessons learned from the Bank's experiences working with policy makers and other stakeholders to implement the ROSC A&A recommendations. This first chapter introduces the book by showing how sound A&A practices in the private and public sectors contribute to LAC development agenda, and by describing the regional economic context. It then presents three case studies of successful financial reporting and auditing reforms within LAC, showing how these reforms have benefited the countries. It describes drivers of reform that have led some countries to adopt global standards of good A&A practice and others to take a more conservative, wait and see approach. Finally, the chapter describes the objectives and methodology of this study, and the structure of the book.


  • Autor

    Fortin, Henri Hirata Barros, Ana Cristina Cutler, Kit

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  • País

    América Latina,


  • Região

    América Latina e Caribe,

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  • Nome do documento

    Accounting for growth in Latin America and the Caribbean : improving corporate financial reporting to support regional economic development

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    financial reporting;ifac statements;financial and private sector development;small and medium enterprise;Cost of Doing Business;Senior Financial Management Specialist;flexible exchange rate regime;broad range of stakeholders;information and communication technology;Private and Financial Sector;rights of minority shareholder;access to finance;financial information;Private Sector Growth;Governance and Accountability;purchasing power parity;financial reporting system;global financial crisis;gross national income;international good practice;standards of quality;resistance to change;Junior Professional Associate;capacity development programs;government debt security;global climate change;engine of growth;Public Financial Management;high fixed cost;accurate financial information;design of reforms;Rule of Law;civil society group;total external debt;international commodity price;government and business;private debt security;standards of governance;amount of investment;corporate governance standard;lack of finance;financial sector standard;international financial architecture;financial sector supervision;international financial stability;financial sector stability;financial reporting standard;good governance practices;allocation of capital;public sector resource;credit rating agency;credit rating agencies;improving service delivery;standards of education;law and regulation;types of transactions;Regional Economic Development;nonbank financial institution;supreme audit institution;privatization of state;international accounting standard;international standard;Business Climate;independent audit;insurance companies;accounting education;partner country;investor confidence;financial statement;accounting curriculum;accounting profession;audit profession;local enterprise;certification system;fiduciary responsibility;university level;financial market;rigorous standards;professional development;auditing profession;enforcement regime;investment capital;global standard;external shock;brazilian companies;international level;security market;banking crisis;extreme poverty;corporate sector;business decision;oversight body;professional certification;currency devaluation;stock market;public oversight;potential investor;bank shareholders;diverse stakeholder;separate account;finance accounting;economic stagnation;cross-border investment;high inflation;debt obligation;oil crisis;world economy;external demand;audit practice;bank regulator;domestic industry;local company;applicable law;global scale;bank depositor;international integration;efficient investment;trading partner;subsidiary right;political change;overseas investor;securities issuer;stock holding;statutory framework;social indicator;enforcement action;company accountant;Economic Inequality;adequate capacity;world trade;Civil War;oil price;population data;Infant Mortality;economic crisis;social gains;basic infrastructure;educational achievement;local circumstance;auditing requirements;chronic inefficiency;Macroeconomic Stability;essential services;State Treasury;financial loss;lack transparency;adoption process;corporate accounting;national rules;auditing standard;national norm;stringent rules;public servant;public university;account audit;accounting practice;small country;regulatory fragmentation;regulatory process;domestic investor;regional policy;increased demand;certification examination;voluntary requirement;sound financial;regulatory oversight;reform process;local accounting;auditing process;certification requirement;course content;operational risk;corporate failure;Country Systems;Higher Education;education systems;university degree;company registry;innovative solution;limited resources;medium-sized enterprise;donor community;lending activities;regulated companies;ethical standard;enforcement power;public accountant;statutory auditor;interest entity;professional accounting;transparent reporting;professional body;entry requirement;professional examination;minimum level;research assistance



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