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Accounting, accountants and professional public accountants are professions that are needed for the world of the global economy. Today, the world is united, starting from the existence of the internet to the existence of free trade such as the FTA (Free Trade Area) and ASEAN Economic Community between countries, especially Southeast Asia. This presents a challenge for the public accounting profession. The number of public accountants in Indonesia is still very low when compared to the total population and the needs of the business world. The government, IAI, IAPI, academics have taken various steps to overcome this, although not yet fully effective. ASEAN Economic Community is a challenge if the Indonesian Accountant is one of the faces of Indonesia's professional resources. If Indonesian Accountants can survive and win the ASEAN Economic Community competition at least in their own country, the future and reputation of Indonesian Accountants will be even brighter and it is not impossible that Indonesian Accountants can compete at the Asian and world levels.

Las empresas son un pilar fundamental para el crecimiento económico sustentable de los países. Actualmente se nota como las empresas se ven obligadas a adaptarse a los cambios tecnológicos y a la competencia, a fin de lograr un crecimiento económico, una sólida cultura empresarial, un fuerte liderazgo y, una gestión del conocimiento e innovación. Por ello, las empresas no solo deben centrarse en el crecimiento económico, la búsqueda de la máxima producción y beneficio, sino más bien, también buscar lograr además, otros factores que vayan más allá de las mejoras en la economía, la eficiencia, la efectividad, la productividad, la competitividad y, los mejores niveles de liquidez, gestión, solvencia y rentabilidad y; se vean reflejados en el desarrollo del país, la sociedad y el medio ambiente. Es así como en la actualidad se demanda que las empresas contribuyan al desarrollo de territorios sostenibles, es un gran desafío tanto ambiental como de gobernanza, por lo tanto, será necesario fomentar un desarrollos territoriales inclusivos para humanos y para el medio ambiente a fin de salvaguardar el patrimonio natural y cultural de los países. Las empresas de la mano con los gobiernos deben trabajar en conjunto para crear ciudades autosuficientes, resilientes e inteligentes, ayudar a mejorar la infraestructura, como en la eficiencia y la calidad de vida de cada uno de los habitantes. La Facultad de Ciencias Económicas, Administrativas de la Universidad Libre Colombia Seccional Cúcuta, el Grupo de Investigación en Competitividad y Sostenibilidad para el Desarrollo - GICSD – y la Revista Gestión y Desarrollo Libre, convocaron a profesionales, estudiantes, investigadores, académicos nacionales e internacionales, a participar en el VIII Congreso Internacional Ciencias económicas, Administrativas y Contables (CICEAC) “Desarrollo Empresarial y Territorios Sostenibles”. El objetivo del CICEAC fue crear un espacio en las Ciencias Económicas, Administrativas y Contables en torno a la evolución de las organizaciones en el marco de la adaptabilidad y la sostenibilidad a entornos complejos, a fin de promover el dialogo y debate académico que oriente la construcción de competencias para responder a las perturbaciones e inestabilidades propias del entorno actual. El CICEAC 2022 ha ido creciendo, mejorando y abriéndose al mundo. El evento contó con la participación de más de catorce países de Latinoamérica en las distintas modalidades, estos son: México, El salvador, República Dominicana, Honduras, Haití, Costa Rica, Venezuela, Ecuador, Perú, Brasil, Chile, Argentina, Uruguay y Cuba. No hay mejor manera de haber celebrado el día del Administrador de Empresas, generando espacios para la presentación de conferencias, ponencias y presentaciones culturales, a fin de escuchar la disertación y exposición de resultados de investigaciones de sus propios autores. Companies are a fundamental pillar for the sustainable economic growth of countries. countries. Nowadays, it is noticeable how companies are forced to adapt to technological changes and competition in order to achieve economic growth technological changes and competition, in order to achieve economic growth, a solid business culture, strong leadership, knowledge management and innovation. strong leadership, knowledge management and innovation. Therefore, companies must not only focus on economic growth, the pursuit of maximum production and profit, but also on the and profit maximization, but rather, also seek to achieve other factors that go beyond the factors that go beyond improvements in economy, efficiency, effectiveness, productivity, competitiveness and the best levels of liquidity, management, solvency and profitability. and profitability, and are reflected in the development of the country, society and the environment. and the environment. This is how companies are currently required to contribute to the development of sustainable territories. sustainable territories is a great environmental and governance challenge. Therefore, it will be necessary to promote an inclusive territorial development for humans and for the environment in order to the environment in order to safeguard the natural and cultural heritage of the countries. The businesses and governments must work together to create self-sustaining, resilient and smart cities. self-sufficient, resilient and smart cities, helping to improve infrastructure, as well as the efficiency and quality of life in each country. efficiency and quality of life for each and every inhabitant. The Faculty of Economics and Administrative Sciences of the Universidad Libre Colombia, Cúcuta Seccional Seccional Cúcuta, the Research Group on Competitiveness and Sustainability for Development - GICSD - and the Development - GICSD - and the Journal Gestión y Desarrollo Libre, convened professionals, students, researchers, academics, national and international professionals, students, researchers, national and international academics, to participate in the VIII International Congress to participate in the VIII International Congress on Economic, Administrative and Accounting Sciences (CICEAC) Accounting Sciences (CICEAC) "Business Development and Sustainable Territories". The objective of the CICEAC was to create a space in the Economic, Administrative and Accounting Sciences around the evolution of the organizations around the evolution of organizations within the framework of adaptability and sustainability to complex environments, in order to and sustainability to complex environments, in order to promote dialogue and academic debate to guide the construction of and debate that guides the construction of competencies to respond to the perturbations and instabilities of the current and instabilities of the current environment. CICEAC 2022 has been growing, improving and opening up to the world. The event was attended by more than fourteen Latin American countries participated in the different modalities. modalities, these are: Mexico, El Salvador, Dominican Republic, Honduras, Haiti, Costa Rica, Venezuela, Ecuador, Peru, Brazil, Chile, Argentina, Uruguay and Cuba. There is no better no better way to have celebrated the day of the Business Administrator, generating spaces for the conferences, lectures and cultural presentations, in order to listen to the dissertation and and presentation of research results by their own authors. authors.

Since 2003, the Philippines have been striving to implement reforms aimed at improving audit quality. Oversight of the audit profession is a key control over the financial reporting architecture of a country’s private sector. A Quality Assurance Review system over audit practitioners is a subset of oversight which serves as a key monitoring control over the integrity of financial reporting. In keeping with the country’s strategic priority of boosting private sector development by improving the investment climate for firms of all sizes, including greater access to finance, legislation was enacted to support the objective of increasing the integrity of private sector financial reporting through improved audit quality. Accordingly, the Board of Accountancy was mandated with the power to conduct oversight into the quality of audits of financial statements through a review of the quality control measures instituted by auditors in order to ensure compliance with the accounting and auditing standards and practices. . However, the injunction remains in place and, accordingly, implementation of the mandated Quality Assurance Review Program may not move forward. Several concrete steps should be taken in order to effectively move forward with the rollout of a comprehensive system of public oversight including audit quality assurance in the Philippines. These include (1) reforming the legal framework to establish an effective audit oversight system with sufficient legal power and authority (2) rationalizing the statutory audit threshold to minimize the conditions contributing to low quality audits, (3) building support among key stakeholder groups by properly addressing their concerns to the extent possible, (4) ensuring coordination of efforts among regulators to eliminate gaps and overlaps and foster collaboration among the group, and (5) establishing a dedicated Project Management Office to oversee the rollout of a Quality Assurance Review Program over audit practitioners.

The accountancy profession in Zimbabwe has been evolving for the past three decades. The past two decades witnessed regulatory framework changes leading to the setting of a regulatory body under the Public Accountants and Auditors Board (PAAB) through a statutory instrument of Parliament (PAA Act: 27:12). This research paper examines potential regulatory gaps that may exist in the framework, structural setting and legal instrument governing PAAB with the aim to establish evidence to support future developments in the accounting profession in Zimbabwe. The research conducted a desk review of legal instruments and organisational documents. Further, a narrative enquiry was explored with audit firms and professional accountants in Zimbabwe. The findings show that despite the progressive regulatory framework developments, there are gaps in the structural setting, framework and regulatory instruments governing the accounting profession in Zimbabwe. The findings show that the regulatory framework is predominantly private sector orientated and there is limited inclusion of the public sector and the no-for-profit sectors in framework and structural setting of PAAB.

The Report on the Observance of Standards and Codes - Accounting and Auditing (ROSC A&A) program is part of a 12-module joint World Bank-IMF initiative to assist member countries to strengthen their financial systems by improving their capacity to comply with internationally recognized standards and codes. The program focuses on the institutional framework underpinning national accounting and auditing practices, and degree of conformity with international standards and good practices. The initial ROSC A&A for Rwanda was carried out in 2008 and provided a key input in designing necessary financial reporting reforms in the country. The 2015 update is a valuable tool for monitoring the effectiveness of the reform program. It assesses the degree to which the recommendations of the 2008 ROSC A&A review have been implemented, identifies issues that have emerged since the last review, and proposes a number of recommendations aimed at further strengthening the quality of corporate financial reporting and auditing which contributes to improving business climate, investors’ confidence and economic growth potential of Rwanda.

This study was undertaken under the leadership of the Ministry of Finance and Economic Development (MOFED) to assess fiduciary risks in using country financial management (FM) systems in full, or in part, for implementing Donor and Bank-financed investment projects in Zimbabwe and to identify risk mitigation measures required for such use. Fiduciary risk is the risk that Bank funds (or donor funds) will not be used for their intended purposes or that they will be used without due attention to economy and efficiency. In projects using country FM systems, Bank funds are potentially commingled with the country’s own funds; therefore, a fiduciary risk assessment also needs to consider broader country PFM risks that could affect the fiduciary risk. This assessment uses a risk-based approach consistent with the interim guidance note issued by the FM Sector Board in 2009, entitled ‘assessment of fiduciary risks in the use of country FM systems in bank-financed investment projects’; and supplemented by the framework methodology for channeling investment lending projects through country financial management systems and the approach used for regular FM assessments. The risk-based approach provides a ranking of the fiduciary risks to be managed as high, substantial, moderate, or low. The decision to use country systems for a specific project then rests with the project's task team, guided by the country management team, after taking into account this fiduciary risk assessment and other factors such as the nature and complexity of the project and an assessment of implementing entities.

The main objectives of this report are to: (a) provide a synthesized analysis of financial reporting and auditing standards and practices across the countries in which the Institute of Chartered Accountants of the Caribbean (ICAC) is active and (b) provide a basis for recommendations to ICAC and respective national institutes for a regional strategy to enhance the accounting profession and the accounting and auditing practices in the public and private sectors. This report’s focus on reforms and identification of areas and means to strengthen the accounting profession have at their root the conviction that systemic enhancements to the standards and practices of the profession can materially improve the lives of the region’s populace, particularly its less prosperous citizens, through greater transparency, strengthened economic growth and its attendant employment and tax revenue prospects, and greater access to financing for and formalization of the region’s dominant sector-micro, small, and medium-sized enterprises (MSMEs). The report finds that a constraint limiting both investment across the region, particularly to MSMEs that characterize the respective national economies, and the efficient use of public resources is the accounting and auditing practices and the financial reporting regimes that prevail in both the public and private sectors. This finding emerges from: (i) a review of Reports on the Observance of Standards and Codes for Accounting and Auditing (ROSC AA) conducted by the World Bank for Jamaica, Trinidad and Tobago, Suriname, and the countries of the Organisation of Eastern Caribbean States, and (ii) Bank missions to those countries updating the ROSC findings as well as missions to countries that have not yet had ROSC AA reviews (during which the Bank team met the national accountancy body, regulators of entities that fall within the financial reporting chain, supreme audit institutions, central banks, and so forth so as to secure information that would typically be found in formal ROSC AA reports).

This report on observance of standards and codes in accounting and auditing (ROSC A & A) provides an assessment of accounting, financial reporting, and auditing requirements and practices within the enterprise and financial sectors of Serbia and sets forth areas of consideration with a view to improving the country’s institutional environment for corporate financial reporting. To assess Serbia’s compliance with standards and codes, this report uses international benchmarks of good practice, including international financial reporting standards (IFRS), international standards on auditing (ISA), the statements of membership obligations (SMO) of the international federation of accountants (IFAC), and - because Serbia is seeking accession to the European Union (EU) - relevant provisions of the EU acquis communautaire (the acquis) governing financial reporting. The assessment focuses on the strengths and weaknesses of the A and A environment that influence the quality of corporate financial reporting, and includes a review of both statutory requirements and actual practice. It updates an earlier assessment published in 2005. ROSC A and A assess accounting and auditing practices in participating countries.

The Report on the Observance of Standards and Codes, Accounting and Auditing (ROSC AA) in Sri Lanka aims to assess the progress made on implementation of the policy recommendations of the first ROSC AA in 2004 and supports the Government of Sri Lanka in preparing a country action plan. This will further enhance the quality of corporate financial reporting, and thereby contribute toward the country’s goal of improving the investment climate, attracting foreign direct investment (FDI), and fostering business development. The ROSC review, requested by the Minister of Finance and Planning, entailed an evaluation exercise that assesses the strengths and weaknesses of existing institutional frameworks that underpin financial accounting and auditing practices; determines the comparability of national accounting and auditing standards; and evaluates the effectiveness of enforcement mechanisms for ensuring compliance with existing national standards, rules, and regulations. The review was conducted from December 2013 to September 2014 using the World Bank’s multi-layered review methodology. All findings reflect this time period of the review; some stated future events may have been achieved by publication date. The data and information used for the review was gathered from a diagnostic questionnaire completed by stakeholders; by reviewing accountancy profession-related documents; and through interviews with many stakeholders from government, regulatory and accountancy bodies, accounting and auditing firms, banks, insurance companies, state-owned enterprises (SOEs), small and medium-size enterprises (SMEs), and academia. The review focused on assessing the institutional framework underpinning accounting and auditing practices in the private sector and in SOEs of the country in comparison with international standards and good practice.

This Report on Observance and Codes-Accounting and Auditing (ROSC-A&A) assesses the corporate sector accounting, financial reporting, and auditing practices in Jamaica. It builds on its predecessor, a 2003 ROSC-A&A, and its aims to assist the Government of Jamaica's efforts to strengthen accounting and auditing practices and to enhance financial transparency in the corporate sector, so as to support the Government's economic reform program and provide greater confidence to current and potential investors with respect to the financial reporting environment. Jamaica has embarked on an economic reform program whose main objectives are to contain the country's growing economic and external vulnerabilities and address economic imbalances, while putting the country on a path to sustainable growth. Important reforms include: (a) strengthening public finances, including through comprehensive tax reform, expenditure rationalization, and improved public debt management and public financial management; (b) enhancing the resilience of the financial sector through strengthened supervisory, regulatory, and crisis-management frameworks; and (c) improving growth generating efficiency through enhancements to the business environment and strengthened institutional capacity and governance.

The purpose of this report on corporate financial reporting in Austria is to describe the key features of Austria’s corporate financial reporting environment as well as its practical application in regard to small and medium enterprises (SMEs’) financial reporting practices in Austria. This report builds on the World Bank accounting and auditing reports on standards and codes (ROSC) methodology to give an overview of the Austrian corporate financial reporting system. It selectively provides good practice examples that can give incentives to overcome impediments to financial reporting reform. Based on the findings of two surveys conducted among Austrian SMEs and Austrian financial institutions, the report focuses particularly on aspects relevant to SME financial reporting. This report forms part of the activities of the center for financial reporting reform (CFRR) within the road to Europe program of accounting reform and institutional strengthening (REPARIS), which also provided funding.

The auditing profession in Chad is characterized by the existence of numerous practitioners who provide accounting and auditing services illegally, in violation of community regulations, and whose qualifications often do not meet the international standards. To date, Chad has not yet set up a national association of chartered accountants. One of the most pressing areas in transposing community texts relates to the establishment of a national association of chartered accountants, whose existence is essential for the development and practice of the accountancy profession in Chad. It is also important for consolidating accounting and auditing processes, improving the quality of financial reporting, facilitating access to credit and supporting foreign direct investors, as well as improving the competitiveness of national businesses. With regard to the accounting standards, the Uniform Act (UA) organizing and harmonizing accounting systems for businesses, as well as the accounting chart of accounts and the provisions put in place by the Commission Bancaire d'Afrique Centrale (COBAC) and the Conference Interafricaine des Marches d'Assurances (CIMA) code, there has been very little change since their entry into force towards the end of the 1990s. This is due to shortcomings in the functioning of the regional bodies in charge of ensuring that these texts were updated in line with changes in the accounting, economic, and legal fields. Looking ahead, the major areas of focus in seeking to strengthen the legal and regulatory framework governing accountancy and auditing professions in Chad are the following: (i) the reclassification of CEMAC licensed accounting technicians in Chad in the category of public accountants, in accordance with community regulations, (ii) the establishment of a national association of chartered accountants, (iii) the proper functioning of the national accounting standards commission, (iv) the adoption of auditing professional standards and a code of ethics in line with those established by International Federation of Accountants, or IFAC independent standard-setting board, (v) the strengthening of initial training through the improvement of the quality of the national curriculum and by drafting a continuous professional training plan, and (iv) the capacity building of the Court of Accounts to enable it implement INTOSAI auditing standards in order to ensure proper supervision of public enterprises.

The main purpose of the South Africa Report on the Observance of Standards and Codes, Accounting and Auditing (ROSC A&A) is to determine reforms that will continue to improve the quality of financial reporting in South Africa. The review, requested by the Minister of Finance, was conducted to assess the status of implementation of policy recommendations in the prior 2003 ROSC A&A report, assess the institutional framework underpinning accounting and auditing practices in comparison with international standards and good practices in order to identify any emerging issues that require strengthening, share good practices adopted in the country, and propose policy recommendations addressing areas that require improvements. Implementation of the policy recommendations will further enhance the quality of financial reporting in the country, a key pillar that contributes to enhancing the business environment and advancement of governance and financial accountability in both the private and public sector entities. The review focuses on private sector. Financial reporting in public sector is assessed under public expenditure and financial accountability framework.

Doing business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 10 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. In a series of annual reports doing business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 183 economies, from Afghanistan to Zimbabwe, over time. This economy profile presents the doing business indicators for Singapore. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. The data in this report are current as of June 1, 2011 (except for the paying taxes indicators, which cover the period January- December 2010).

This aim of this report is to assess the accounting and financial auditing standards and practices in Burkina Faso in the private and semipublic sectors, using as benchmarks International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) and taking into account the good practices noted in the international sphere in these two areas. The main objective of this assessment is to make recommendations aimed at strengthening accounting, financial auditing, and financial transparency practices in the private sector and semipublic enterprises in Burkina Faso. The development objectives associated with these recommendations are as follows: (i) stimulating private investment and enhancing the competitiveness of enterprises; (ii) improving governance in the private market and semipublic sector; and (iii) achieving greater integration of the Burkinabe economy at the regional and international levels.