2017年-世界发展银行全球_Report_on_the_Observance_of_Standards_and_Codes_Accounting_and_Auditing___Module_B_-_Institutional_Framework_for_Corporate_Financial_Reporting_B5_Accountancy_Profession_17页_361kb

Summary of the Report on the Observance of Standards & Codes (ROSC) Accounting & Auditing (A&A)

Core Content

This document is a questionnaire designed to evaluate the institutional framework for corporate financial reporting in a jurisdiction, with a focus on the accounting and auditing profession. It outlines the entry requirements, continuing professional development (CPD), and the role of professional accountancy organizations (PAOs) in ensuring professional standards. The questionnaire is based on international good practices, particularly those from the International Accounting Education Standards Board (IAESB) and the International Ethics Standards Board for Accountants (IESBA).

Main Points

A. Entry Requirements to the Accountancy Profession

1. Minimum Entry Requirements: The questionnaire asks whether there are minimum entry requirements for aspiring accounting professionals and auditors. It provides a list of possible requirements, including:

   • University-level education or equivalent
   • Practical experience
   • Completion of a professional examination
   • Other (to be explained)

2. Education Requirements:

   • For accounting professionals, the questionnaire asks about specific undergraduate degrees or equivalent qualifications.
   • For auditors, it requests similar information, with a focus on the legal authority to sign audit opinions.

3. Practical Experience:

   • The legal requirement for practical experience is inquired, including the law or statute that establishes it.
   • Types of qualifying activities for accounting professionals and auditors are requested.
   • The length of the practical experience requirement is to be specified.
   • Who can act as a practical experience provider is also asked.
   • The method of assessing practical experience and the responsible body is required.
   • Whether the provider needs accreditation and the body providing it.

4. Initial Professional Development (IPD):

   • Compliance with IES 2-6 is to be indicated.
   • If not required, examples of activities that must be completed are to be provided.

5. Professional Competence for Auditors:

   • Compliance with IES 8 is to be indicated.
   • If not required, examples of activities or assessments are to be provided.

6. Examination Requirements:

   • The technical competence areas and learning outcomes covered in the professional examination are to be selected.
   • The business language for the examination and course materials is to be specified.
   • The methods of assessment, administering body, support institutions, exemptions, and restrictions on attempts are to be described.
   • Statistics on the number of candidates and pass rates over the last three years are required.

7. Code of Ethics:

   • The questionnaire asks whether auditors are required to comply with a code of ethics.
   • It inquires whether the IESBA Code of Ethics has been adopted without modifications or a local code has been developed.
   • It also asks whether the code has legal backing in the jurisdiction.

8. Ethical Standards Body:

   • The body responsible for setting ethical standards is to be identified.

9. Code Development Process:

   • The process for developing a local code of ethics or adopting the IESBA Code is to be described.

10. Code Alignment with IESBA:

    • If a local code is in place, the alignment with the IESBA Code is to be indicated in specific areas such as:
      • Integrity
      • Objectivity
      • Professional Competence and Due Care
      • Confidentiality
      • Professional Behavior
      • Independence (for audit and review engagements, and other assurance engagements)

11. Ongoing Adoption Process:

    • If the IESBA Code has not been fully adopted or adopted with modifications, the ongoing process for full adoption is to be described.

12. Challenges in Compliance:

    • Any challenges related to compliance with the code of ethics are to be outlined.

B. Continuing Professional Development (CPD)

13. CPD Requirements:

    • The requirements for CPD for accounting professionals and auditors are to be described, including whether they are compulsory.

14. Major CPD Providers:

    • The major providers of CPD are to be identified, including whether they are required to be accredited and the body providing accreditation.

15. Monitoring and Enforcement of CPD:

    • A systematic process for monitoring and enforcing CPD requirements is to be described if in place.

C. Professional Accountancy Organizations (PAOs)

16. PAO Information:

    • Details on the name, date of establishment, and governance structure of PAOs are to be provided.
    • The composition of the leadership team, including titles and election process, is required.
    • Membership requirements, including recognition of foreign qualifications, are to be outlined.
    • Statistics on the total number of registered members, broken down by gender and membership tier, are requested.
    • The number of new members in the last three years is to be specified, including gender breakdown.
    • The status of PAO membership in IFAC and other international organizations is to be indicated.
    • Funding sources and their percentages are to be listed.

17. Statutory Powers of PAOs:

    • The statutory powers of PAOs, such as issuing licenses, setting standards, and monitoring members, are to be briefly described.

18. Investigation and Disciplinary Actions:

    • Whether the PAO investigates misconduct or disciplinary infractions is to be indicated.
    • If so, the monitoring, investigation, and enforcement mechanisms are to be described.
    • The powers of the body in conducting investigations, such as requiring documentation, are to be outlined.
    • The range of sanctions available, including exclusion, penalties, or referrals, is to be detailed.
    • Examples of major enforcement actions over the last five years are to be provided, including the nature of the offense and the sanction imposed.

Key Information

• Entry Requirements: The questionnaire emphasizes the need for education, practical experience, and professional examinations to enter the profession.
• Ethical Compliance: It asks about the adoption and alignment of ethical codes with international standards and the presence of legal backing.
• CPD: It requires information on the structure and enforcement of continuing professional development.
• PAO Role: It outlines the responsibilities of PAOs, including governance, membership, and enforcement of standards.

Structure

• Module B: Institutional Framework for Corporate Financial Reporting
• Sections A, B, and C: Cover entry requirements, CPD, and PAO details respectively.
• Additional Information: Allows for supplementary details to be added, with references to specific sections and questions.

This report serves as a diagnostic tool to assess the compliance and alignment of the accounting and auditing profession with international standards, providing a structured approach to understanding the professional framework in the jurisdiction.