International Accounting and Reporting Issues
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International Accounting and Reporting Issues

2014 Review

The International Accounting and Reporting Issues 2014 Review is focused on the interrelated topics of compliance monitoring and enforcement mechanisms in relation to corporate reporting, auditing and regulation of professional accountants within the context of achieving high-quality corporate reporting. In order to facilitate sharing of experiences among members States and also to provide practical examples of compliance monitoring and enforcement mechanisms in relation to international corporate reporting standards and codes. the UNCTAD secretariat, in cooperation with top experts on these topics, prepared country case studies on Australia, Belgium and Canada. Chapter I analyzes the key elements that member States need to consider when building efficient monitoring and enforcement systems for companies, audit firms and professional accountants. It highlights standards and guidance for good practices and discusses the main challenges to establish efficient mechanisms for the monitoring of compliance and enforcement. The respective country case studies are contained in chapters II through IV.
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Case study: Australia You do not have access to this content

English
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UNCTAD

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This case study presents an overview of MCE of accounting and reporting standards and codes in Australia. Section A provides a brief introduction to the economic setting and the structure of the Government and legal system. The stock exchange and financial system are also described, and major participants in the financial reporting system – rulemakers, financial statement preparers and rule enforcers – are identified.