2002年-世界发展银行全球_Poland___Accounting_and_Auditing_17页_466kb

Summary of the REPORT ON THE OBSERVANCE OF STANDARDS AND CODES (ROSC) in Poland

Core Content

This report assesses the current state of accounting and auditing practices in Poland, comparing them with international standards. It was prepared by the World Bank in collaboration with a National Steering Committee under the Ministry of Finance. The findings are based on a self-assessment by the committee and an independent due diligence review. The report serves as a foundation for developing a National Action Plan to enhance the quality of accounting and auditing in Poland.

Main Points

1. Institutional Framework

• The Accounting Act (1994, 2000) has aligned Polish Accounting Regulations (PARs) with International Accounting Standards (IASs), shifting the focus from tax compliance to business-oriented financial reporting.
• Statutory audits are required for banks, insurance companies, publicly traded companies, investment funds, pension funds, holding companies, and joint stock companies.
• Small enterprises are exempt from annual statutory audits unless they meet specific thresholds (e.g., 50 full-time equivalent employees, EUR2.5 million in total assets, or EUR5 million in net sales revenue).
• The National Chamber of Statutory Auditors (NCSA) is the main professional body regulating auditors, authorized to set auditing standards and enforce professional ethics.

2. Professional Bodies

• The National Chamber of Statutory Auditors (NCSA) and the National Board of Chartered Accountants Association in Poland (NBCAAP) are the two professional bodies in Poland that have joined the International Federation of Accountants (IFAC).
• The Accountants Association in Poland (AAP), established in 1907, is a voluntary organization with over 30,000 individual members and 12,000 member organizations. It is not a self-regulatory body.
• The NCSA is well-structured, with a National Assembly and a National Board, and is responsible for setting auditing standards, professional ethics, and conducting practice reviews.

3. Professional Ethics

• A Code of Professional Ethics was adopted in 1997 and updated in 2002 in line with the IFAC Code.
• Despite alignment with international principles, implementation guidelines are lacking, making it difficult for auditors to apply the standards effectively.
• The report emphasizes the need for greater awareness and training on issues such as auditor independence and conflict of interest.

4. Education and Training

• To qualify as a statutory auditor, candidates must have a university degree, and the NCSA administers a ten-subject examination in four phases.
• The current system focuses on memory-based testing rather than assessing critical thinking.
• Continuing professional education (CPE) is mandatory, with 30 hours of training required annually.
• There is a shortage of experienced instructors in higher education institutions, which affects the quality of training for future auditors.

5. Accounting and Auditing Standards

• The Accounting Standards Committee (ASC), established in April 2002, is responsible for issuing Polish Accounting Regulations (PARs).
• The NCSA sets auditing standards in consultation with the Ministry of Finance and the Securities and Exchange Commission (SEC), and also permits the use of International Standards on Auditing (ISAs) when necessary.
• Only 8 out of 30 accounting requirements are fully comparable to IASs, with 15% broadly comparable and 35% noncomparable or nonexistent.
• Publicly traded companies are required to disclose differences between their accounting policies and IASs, but this requirement was suspended in early 2002.

6. Compliance and Enforcement

• The Securities and Exchange Commission (SEC) monitors and enforces disclosure requirements, but faces resource constraints.
• From 1998 to 2001, the SEC identified 32 noncompliance cases, leading to sanctions including cancellation of listing and financial penalties.
• The NCSA has the authority to take disciplinary actions, such as admonishment, reprimand, suspension, or cancellation of license, but enforcement is limited due to lack of resources and methodological issues in practice reviews.
• Transparency in practice review results is recommended to promote a culture of compliance.

Key Recommendations

• Update Polish Auditing Standards to align with international standards.
• Improve curricula in higher education to focus on practical application of IAS and professional ethics.
• Enhance training programs for auditors and accountants to ensure better understanding and application of international standards.
• Increase the number of experienced auditors through better recruitment and training mechanisms.
• Strengthen the capacity of regulatory bodies to monitor and enforce compliance with international accounting and auditing standards.
• Promote public disclosure of practice review results to encourage adherence to professional standards.

Conclusion

Poland has made progress in aligning its accounting and auditing frameworks with international standards, but significant gaps remain in the application of standards, professional training, and enforcement mechanisms. The report highlights the need for continued reform, particularly in the areas of education, standards development, and regulatory capacity, to ensure that financial reporting in Poland meets global expectations.