Nicaragua : A Review of Accounting and Auditing Practices

World Bank

dc.creator	World Bank
dc.date	2012-03-19T10:14:34Z
dc.date	2012-03-19T10:14:34Z
dc.date	2011-03-01
dc.date.accessioned	2023-02-17T20:42:26Z
dc.date.available	2023-02-17T20:42:26Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20120229224926
dc.identifier	http://hdl.handle.net/10986/2828
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/243190
dc.description	This ROSC analyzes accounting, financial reporting and auditing practices within the corporate sector in Nicaragua, using International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks, and drawing on international experience and good practice in those fields. Nicaragua remains among the poorest countries of the Western Hemisphere, with 46 percent of its five million people living below the poverty line. The 2008 Gross Domestic Product (GDP) of US$6.4 billion translates into a per-capita GDP of approximately US$1,000. After average GDP growth of about 3.6 percent during 2005-08, the global financial and economic crisis lead to a contraction in real GDP of 1.5 percent in 2009. Going forward, if the private sector is to serve as an engine of growth for the Nicaraguan economy, the country needs to follow high-level accounting and auditing practices and the highest standards of corporate governance. This ROSC supports three main development objectives: (a) improving Nicaragua's investment climate; (b) ensuring the stability and fostering the development of the local financial sector and (c) advancing governance and financial accountability in both the private and public sectors. The report seeks to help the authorities address these issues by: (i) improving the technical skills of accounting and audit practitioners, (ii) strengthening the regulatory framework governing accounting and audit practices in Nicaragua, and (iii) developing the institutional capacity of the country's accounting professional bodies.
dc.language	English
dc.publisher	World Bank
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCOUNTABILITY
dc.subject	ACCOUNTANCY
dc.subject	ACCOUNTANT
dc.subject	ACCOUNTANTS
dc.subject	ACCOUNTING
dc.subject	ACCOUNTING CURRICULA
dc.subject	ACCOUNTING CURRICULUM
dc.subject	ACCOUNTING POLICIES
dc.subject	ACCOUNTING PRINCIPLES
dc.subject	ACCOUNTING RULES
dc.subject	ACCOUNTING STANDARD
dc.subject	ACCOUNTING STANDARDS
dc.subject	ACCOUNTING SYSTEMS
dc.subject	ACCOUNTING TREATMENT
dc.subject	ACCOUNTS
dc.subject	ACCUMULATED DEPRECIATION
dc.subject	ACTUARIES
dc.subject	AFFILIATES
dc.subject	AUDIT COMMITTEE
dc.subject	AUDIT REPORTS
dc.subject	AUDIT STANDARD
dc.subject	AUDIT STANDARDS
dc.subject	AUDITED FINANCIAL STATEMENTS
dc.subject	AUDITING
dc.subject	AUDITING PROFESSION
dc.subject	AUDITING STANDARDS
dc.subject	AUDITORS
dc.subject	AUDITS
dc.subject	AUTONOMY
dc.subject	BALANCE SHEET
dc.subject	BALANCE SHEETS
dc.subject	BANK FOR INTERNATIONAL SETTLEMENTS
dc.subject	BANKING ASSETS
dc.subject	BANKING CRISIS
dc.subject	BANKING SECTOR
dc.subject	BANKING SECTOR ASSETS
dc.subject	BANKING SUPERVISION
dc.subject	BOND
dc.subject	BONDED WAREHOUSE
dc.subject	BONDED WAREHOUSES
dc.subject	BONDS
dc.subject	BUDGET CONSTRAINTS
dc.subject	BUSINESS ADMINISTRATION
dc.subject	BUSINESS COMBINATIONS
dc.subject	BUSINESS COMMUNITY
dc.subject	CAPACITY CONSTRAINTS
dc.subject	CAPITAL FORMATION
dc.subject	CAPITAL MARKETS
dc.subject	CASH FLOW
dc.subject	CASH FLOWS
dc.subject	CD
dc.subject	CENTRAL BANK
dc.subject	CERTIFICATES OF DEPOSIT
dc.subject	CIVIL CODE
dc.subject	CIVIL LAW
dc.subject	COLLATERAL
dc.subject	COMMERCIAL BANKS
dc.subject	COMMERCIAL PAPER
dc.subject	CONSOLIDATED FINANCIAL STATEMENTS
dc.subject	CONSOLIDATION
dc.subject	COOPERATIVES
dc.subject	CORPORATE GOVERNANCE
dc.subject	CREDIT RISK
dc.subject	CREDIT RISK EXPOSURES
dc.subject	CREDIT RISK MANAGEMENT
dc.subject	CURRENCY
dc.subject	CURRENT ASSETS
dc.subject	DEBT
dc.subject	DEBT RELIEF
dc.subject	DEBTORS
dc.subject	DERIVATIVES
dc.subject	DEVELOPMENT BANK
dc.subject	ECONOMIC DEVELOPMENT
dc.subject	ECONOMIC RISK
dc.subject	ENABLING ENVIRONMENT
dc.subject	ENFORCEMENT MECHANISMS
dc.subject	EQUIPMENT
dc.subject	EXPENDITURE
dc.subject	EXPENDITURES
dc.subject	EXTERNAL AUDITORS
dc.subject	EXTRAORDINARY ITEMS
dc.subject	FACTORING
dc.subject	FAIR VALUE
dc.subject	FINANCIAL ACCOUNTING
dc.subject	FINANCIAL ASSETS
dc.subject	FINANCIAL INFORMATION
dc.subject	FINANCIAL INSTITUTION
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INSTRUMENTS
dc.subject	FINANCIAL MANAGEMENT
dc.subject	FINANCIAL REPORTING
dc.subject	FINANCIAL REPORTING STANDARDS
dc.subject	FINANCIAL REPORTS
dc.subject	FINANCIAL SERVICES
dc.subject	FINANCIAL STATEMENT
dc.subject	FINANCIAL STATEMENTS
dc.subject	FINANCIAL SYSTEM
dc.subject	FISCAL POLICIES
dc.subject	FOREIGN BANKS
dc.subject	FORGIVENESS
dc.subject	FRAUDS
dc.subject	FUTURE CASH FLOWS
dc.subject	GAAP
dc.subject	GOOD PRACTICE
dc.subject	GOODWILL
dc.subject	GOVERNANCE STANDARD
dc.subject	GOVERNMENT ACCOUNTING
dc.subject	GOVERNMENT ACCOUNTING STANDARDS
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	HUMAN CAPITAL
dc.subject	HUMAN CAPITAL DEVELOPMENT
dc.subject	HUMAN DEVELOPMENT
dc.subject	INCOME INSTRUMENTS
dc.subject	INCOME STATEMENTS
dc.subject	INFORMATION SYSTEMS
dc.subject	INSTITUTIONAL CAPACITY
dc.subject	INSURANCE
dc.subject	INSURANCE COMPANIES
dc.subject	INSURANCE COMPANY
dc.subject	INSURANCE POLICY
dc.subject	INTERNAL CONTROLS
dc.subject	INTERNATIONAL ACCOUNTING STANDARDS
dc.subject	INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL BANKING
dc.subject	INTERNATIONAL FINANCIAL INSTITUTIONS
dc.subject	INTERNATIONAL INVESTORS
dc.subject	INTERNATIONAL SETTLEMENTS
dc.subject	INTERNATIONAL STANDARDS
dc.subject	INVENTORIES
dc.subject	INVENTORY
dc.subject	INVESTMENT CLIMATE
dc.subject	LAWS
dc.subject	LEGAL FRAMEWORK
dc.subject	LEGAL PROVISIONS
dc.subject	LEGAL SYSTEM
dc.subject	LEGISLATION
dc.subject	LENDERS
dc.subject	LIABILITY
dc.subject	LIQUID MARKET
dc.subject	LOAN
dc.subject	LOAN PORTFOLIO
dc.subject	LOCAL BUSINESSES
dc.subject	LOCAL STOCK EXCHANGE
dc.subject	MANDATES
dc.subject	MARKET PARTICIPANTS
dc.subject	MARKET RISK
dc.subject	MATURITY
dc.subject	MATURITY DATES
dc.subject	MICROCREDIT
dc.subject	MICROFINANCE
dc.subject	MICROFINANCE INSTITUTIONS
dc.subject	MICROFINANCE SECTOR
dc.subject	MONETARY FUND
dc.subject	MONETARY POLICY
dc.subject	NET ASSETS
dc.subject	NEW ENTRANTS
dc.subject	OPERATIONAL RISK
dc.subject	OWNERSHIP STRUCTURE
dc.subject	PENSION
dc.subject	PENSION FUND
dc.subject	PENSION FUNDS
dc.subject	POTENTIAL INVESTORS
dc.subject	PRIVATIZATION
dc.subject	PROBABILITY OF DEFAULT
dc.subject	PRODUCTIVITY
dc.subject	PRUDENTIAL REQUIREMENTS
dc.subject	PRUDENTIAL STANDARDS
dc.subject	PRUDENTIAL SUPERVISION
dc.subject	PUBLIC ACCOUNTANTS
dc.subject	PUBLIC ACCOUNTING
dc.subject	PUBLIC DEBT
dc.subject	PUBLIC ENTERPRISES
dc.subject	PUBLIC EXPENDITURES
dc.subject	PUBLIC FUNDS
dc.subject	PUBLIC REGISTRY
dc.subject	PUBLIC SERVICES
dc.subject	QUALITY ASSURANCE
dc.subject	QUALITY CONTROL
dc.subject	QUALITY OF EDUCATION
dc.subject	RATES OF RETURN
dc.subject	REAL SECTOR
dc.subject	REGULATORY FRAMEWORK
dc.subject	RESERVE
dc.subject	RESERVES
dc.subject	RETURN
dc.subject	RISK MANAGEMENT
dc.subject	SECONDARY MARKET
dc.subject	SECURITIES
dc.subject	SECURITIES EXCHANGE
dc.subject	SECURITIES MARKET
dc.subject	SEWAGE
dc.subject	SHAREHOLDER
dc.subject	SHAREHOLDERS
dc.subject	SMALL BUSINESS
dc.subject	SOLVENCY
dc.subject	STOCK EXCHANGE
dc.subject	SUBSIDIARY
dc.subject	SYSTEMIC RISK
dc.subject	TAX
dc.subject	TAX CODE
dc.subject	TAXATION
dc.subject	TERRORISM
dc.subject	TRADING
dc.subject	TURNOVER
dc.subject	VALUATION
dc.subject	VALUATION OF SECURITIES
dc.title	Nicaragua : A Review of Accounting and Auditing Practices
dc.type	Economic & Sector Work :: Accounting and Auditing Assessment (ROSC)
dc.coverage	Latin America & Caribbean
dc.coverage	Central America
dc.coverage	America
dc.coverage	Nicaragua

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