Senegal - Report on the Observance of Standards and Codes (ROSC) : accounting and auditing (Anglais)

This 2015 Accounting and Auditing Report on the Observance of Standards and Codes (ROSC A&A) is the second assessment for Senegal. Its main objectives are to: (i) assess the degree of implementation of the 2005 recommendations and action plan and evaluate...  Voir la suite This 2015 Accounting and Auditing Report on the Observance of Standards and Codes (ROSC A&A) is the second assessment for Senegal. Its main objectives are to: (i) assess the degree of implementation of the 2005 recommendations and action plan and evaluate their impact on the accounting and auditing profession; and (ii) identify reforms that could be undertaken to further strengthen the accountancy profession and improve the quality of the country’s financial information. Senegal is experiencing weak economic growth, attributable on one hand to the economy’s vulnerability to domestic and external shocks and, on the other, to structural weaknesses linked in particular to the high costs of transport and energy, as well as an insufficiently attractive business climate. The implementation of the recommendations contained in this report will facilitate improvement in the quality and credibility of financial information in the country. These aspects could be key factors for improving the business climate and boosting investor confidence. This assessment focuses on the strengths and weaknesses of the accounting and auditing environment that affect the quality of the financial information produced by private-lawentities for the use of their various external users. It includes a review of legal obligations, as well as the practices observed in the country. The reference framework serving as the basis of comparison for the analysis consisted of the International Financial Reporting Standards (IFRS2), the International Standards on Auditing (ISA3) and the international good practices currently observed in the field of accounting and auditing regulation.  Réduire