2009年-世界发展银行全球_Afghanistan___Report_on_Observance_of_Standards_and_Codes_-_Accounting_and_Auditing_26页_243kb

Afghanistan ROSC – Accounting & Auditing Summary

Core Content

This report, prepared by the World Bank, evaluates the current state of accounting and auditing practices in Afghanistan as part of the broader Reports on Observance of Standards and Codes (ROSC) initiative. It outlines the institutional and legal framework, identifies key challenges, and proposes policy recommendations to strengthen the financial reporting and auditing environment in the country.

Main Points

1. Context and Purpose

• The report was commissioned to support the development of a robust and modern accountancy profession and regulatory environment in Afghanistan.
• It aims to provide a foundation for reforms, particularly as the country transitions from a conflict-ridden state to a more stable and developed economy.
• The report serves as a tool for development partners, including the IFC, World Bank, DFID, ADB, and USAID, to understand the landscape and guide future activities, such as possible privatization of state-owned enterprises (SOEs) and the establishment of a national accountancy institute.

2. Economic Background

• Afghanistan has experienced significant economic growth since the Bonn Agreement in 2001, with a real compound growth rate of 60% and GDP growth averaging over 17% per year.
• Despite this, the economy remains largely agrarian, with a substantial informal sector.
• The private sector is dominated by small and informal businesses, with limited large enterprises.
• The informal GDP, largely driven by the drug economy, accounts for one-third of the real GDP, but is not included in official statistics.

3. Accounting and Auditing Landscape

• There are no national accounting or auditing standards in place.
• The profession is not regulated by a national body, and the only available professional qualification is the Certified Accounting Technician (CAT) from the Association of Chartered Certified Accountants (ACCA).
• There are only about 20 qualified accountants in Kabul, and 16 audit firms registered with AISA, though many are inactive.
• Statutory audits are not legislated for most entities, except for insurance and banking sectors.
• Financial statements are often incomplete and not prepared in accordance with international standards (IFRS/IAS), with many prepared in Dari rather than English.

4. Legal and Institutional Framework

• Afghanistan lacks a modern, unified legal system, with a mix of secular legislation, Shari'a, and local customs.
• A number of laws and decrees govern the country, but many remain in draft form or have not been enacted.
• Key laws include:
  • Corporations & Limited Liability Companies Law (2007)
  • Partnership Law (2007)
  • Arbitration and Mediation Law
  • Law of State-Owned Enterprises (1991, amended in 2005)
  • Banking Law (1976, amended in 1977 and 2003)
  • Insurance Law (1989, amended in 2005)
• There is no code of corporate governance for non-banking entities, though the Da Afghanistan Bank (DAB) has prudential regulations for banks.
• The Afghanistan Investment Support Agency (AISA) is the sole government agency responsible for registration, licensing, and promotion of investments, but it does not effectively regulate the corporate sector.

5. Key Constraints

• Lack of institutional capacity and limited resources hinder the Ministry of Justice in drafting and implementing laws.
• Inadequate translation capacity from Dari and Pashto to English limits the understanding and application of international standards.
• Weak regulatory environment and lack of qualified professionals contribute to poor quality of financial reporting and auditing.
• Limited access to finance and security concerns deter foreign investment in sectors other than construction and telecom.
• SOEs dominate the corporate sector, with limited financial reporting standards and no requirement for audits.

6. Policy Recommendations

• Establish a Government-led National Steering Committee (NSC) to coordinate, supervise, and direct financial reporting and auditing reforms.
• Develop a sequenced and prioritized action plan that includes short, medium, and long-term measures to build accounting and auditing capacity.
• Ensure that the education and training system produces high-quality accountants who meet international standards.
• Consider the choice of language for financial reporting and education in line with national consensus, while recognizing the global convergence of standards.
• Implement clear responsibilities and resource identification for all stakeholders involved in the reform process.
• Promote the adoption of International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) to improve transparency and credibility in financial reporting.

Key Information

• Total registered entities with AISA: 9,843 (as of April 2008)
  • Limited liability companies: 86%
  • Sole proprietorships: 8%
  • Partnerships: 4%
  • Corporations: 2%
• SOEs: Approximately 65, with a majority likely to be privatized.
• FDI trends: Consistent but declining, mainly concentrated in construction and telecom.
• Financial reporting requirements:
  • Balance sheet: Required for all entities
  • Income statement: Required for corporations and limited liability companies, not for SOEs
  • Group financial statements: Required only for banks
• Audit requirements:
  • Only banks and certain SOEs are required to undergo audits.
  • Most audit firms are inactive, and there is a lack of demand for audit services due to weak legal requirements.

Conclusion

The report highlights the urgent need for a comprehensive and structured approach to reforming Afghanistan’s accounting and auditing systems. A well-coordinated national effort is essential to build the capacity of the profession, establish regulatory oversight, and align with international standards to support economic growth and attract investment.