Presentation from Samia Msadek, Manager, Financial Management, East Asia and Pacific Region, The World Bank, showcasing the available tools and diagnostics that support strengthening and development of professional accountancy organizations (PAOs) through the World Bank Reports on the Observance of Standards and Codes (ROSC).

1. The Value of the ROSC A&A Program
and Accountancy Development for
Results
Realizing the Power of PAOs
Hanoi, 17 August 2012
Samia Msadek, Manager, Financial
Management,
East Asia and Pacific Region, The World
Bank

2. Professional accountancy development:
Why is the World Bank involved?
Accountancy Development an essential pillar
to poverty alleviation and economic
growth…The world needs reliable financial
information
 Private sector development : Investment
climate, Capital market development and
Financial sector stability
 Public sector governance: transparency,
financial accountability, proper use of public
funds and fight against corruption
2

3. Sustainable growth
Employment generation
Improved business environment and investment climate
Financial Financial Improved
Improved governance and
sector sector access to
accountability
stability development credit
Financial sector Capital markets Tax & statistics
regulators and General public
& investors authorities
banks
Reliable, transparent
and comparable financial information
Strong professional accountancy

4. Professional accountancy development:
How is the World Bank involved?
Diagnostic and Regional Initiatives
analytical work (ROSC (Vienna Centre,
A&A, publications) CReCER, Singapore)
ADR
Knowledge Sharing
(CoP, global and Technical Assistance
regional conferences,
GDLN)
4

5. Reports on the Observance of Standards and
Codes - Accounting and Auditing (ROSC A&A)
 WB-IMF initiative since 2001
 Over 120 ROSC A&A reports conducted around
the world
 Aim is twofold:
 Provide a snapshot of where the country stands on
its path toward developing a high-quality CFR
framework (one chapter deals with the accounting
profession, specifically); and
 Assist in developing programs to carry out CFR
reform and build capacity to apply international
standards (IFRS and ISA)
 Forms the basis of engagement with country and
5
initiation of policy dialogue, technical assistance, and

6. World Bank technical assistance by
theme
Standard Setting
PAO Development
Legal Framework
CAP
AccountingEducation
M&E
0 10 20 30 40 50
6
* cross-cutting projects may be categorized inmore than one theme

7. ADR at work: some examples East Asia-Pacific
Europe and Central Asia
• TA in Western Balkans and Moldova • Twinning in Cambodia
(REPARIS) • GDLN series on IFRS
• CoP in Accounting Education, Financial • TA in
Reporting, Auditing, and Financial Sector China, Indonesia, Lao
Supervision PDR, Mongolia, Philippines,
• Twinning in Serbia Thailand, and Vietnam
• Events in Bosnia & Herzegovina and North (strengthen PAO, enhance
Middle-East, capacity in A&A, strengthen
Kosovo Africa M&E of requirements)
• TA in South Asia
Latin Egypt, Jordan, Lebanon, • TA in Sri Lanka to
America/Caribbean West Bank-Gaza, Yemen strengthen independent
• CReCER conferences to strengthen A&A audit regulator
(2007-2011) • CAP in Morocco • Twinning in
Africa Bangladesh
• CReCER CoP
• Twinning in
• TA Accounting
Botswana, Mozambiqu
Education in Central
e, Malawi, and
America
Rwanda
• ROSC A&A
Roundtable
Conference (2010) in
Addis Ababa

8. Going forward: raising our game
More change agents … more leaders…
preparing the future & our 2030 strategy
 Reinventing vs restructuring : 5 elements
: the purpose - incentives – power structure
– accountability – culture
 Creating an increase of
efficiency, effectiveness, adaptability, and
capacity to innovate
8