2012年-世界发展银行全球_Suriname___Report_on_the_Observance_of_Standards_and_Codes_-_Accounting_and_Auditing_41页_23mb

Suriname ROSC A&A Summary

Core Content

This report, titled Report No. AAA74 - SR, is a Suriname Report on the Observance of Standards and Codes (ROSC) focusing on Accounting and Auditing. It was prepared by the World Bank in collaboration with the Government of Suriname, the Ministry of Finance, the Central Bank of Suriname, and stakeholders such as the Institute of Chartered Accountants of Suriname (SUVA). The report aims to improve corporate financial reporting and auditing practices in Suriname to support private sector-led growth and better integration with the international economy.

Main Abbreviations and Acronyms

Key Findings

• Legal and Regulatory Framework: Suriname lacks a legal requirement for the use of accounting standards or mandatory auditing for most entities. Only entities with specific mention in their Articles of Association are subject to audit.
• Accounting Standards: A review of 25 published financial statements revealed significant discrepancies between current practices and IFRS.
• Accountant Supply and Demand: There is a shortage of qualified accountants, with only 35 available in Suriname, while the demand is estimated to be between 200-300. This gap affects the quality of financial reporting.
• Professional Capacity: The Institute of Chartered Accountants of Suriname (SUVA) faces capacity challenges and is not yet an official independent body under Suriname law.
• Ethics in Education: Academic programs in accounting lack sufficient coverage of professional ethics, which is essential for developing ethical reasoning among future professionals.
• Audit Quality: There is a need for stronger audit quality control mechanisms and the implementation of International Auditing Standards (ISA).

Main Recommendations

1. Strengthen the Statutory Framework

• Enact an Accountants Act to establish the Institute of Chartered Accountants of Suriname (SUVA) as an independent legal entity.
• Define the roles and responsibilities of the national accounting body and associated regulatory agencies.

2. Implement International Standards

• Mandate IFRS for public interest entities and nonlisted large companies.
• Implement simplified IFRS for other nonlisted companies and medium-sized enterprises.
• Mandate ISA for the audit of public interest entities, nonlisted companies, and medium-sized enterprises.

3. Strengthen Professional Accountability

• Develop SUVA into an active national organization representing Suriname internationally.
• Establish an independent audit quality review mechanism (e.g., an Audit Oversight Board) under the Ministry of Finance or Central Bank.

4. Improve Professional Education and Training

• Introduce a Continuing Professional Development (CPD) program for both SUVA members and students.
• Develop a modern curriculum at the higher education level that includes IFRS and ISA.
• Establish a twinning arrangement between SUVA and an IFAC member body.

5. Enhance Regulatory Capacity

• Strengthen the Central Bank of Suriname and the Ministry of Finance to monitor and enforce financial reporting standards.
• Develop a Securities and Exchange Commission (SEC) to regulate the securities market and protect stakeholders.

6. Support the Supreme Audit Institution (SAI)

• Provide support to Rekenkamer van Suriname to implement its strategic plan, strengthen staff capacity, and conduct financial and performance audits.
• Enhance the capacity of the government's Audit Bureau (CLAD) and internal auditing in line ministries.

7. Foster Public Awareness

• Introduce a public awareness program to improve compliance with financial reporting standards.
• Brief shareholders, directors, and top officials on their responsibilities and the legal implications of compliance.

Policy Recommendations Summary

Action Plan (1–4 Years)

Conclusion

The report emphasizes the importance of aligning Suriname's accounting and auditing practices with international standards to improve financial transparency, attract investment, and strengthen the country's financial architecture. It outlines a comprehensive action plan involving multiple stakeholders, with a focus on institutional development, capacity building, and regulatory improvements. The implementation of these recommendations is expected to significantly enhance the quality of financial reporting and auditing in Suriname, supporting its economic development goals.