Diagnostic Study of Accounting and Auditing Practices in Selected Developing Member Countries

Investigating accounting and auditing practices in ADB's member countries

This report summarizes the results of country-wise Diagnostic Studies of Accounting and Auditing (DSAAs) for Asian Development Bank's (ADB) five developing member countries - Azerbaijan, Fiji Islands, Marshall Islands, Philippines and Sri Lanka. The studies were carried out to aid ADB in addressing two identified priority areas in its member countries. The areas were:

  • Strengthening banking supervision and regulation;
  • Improving financial reporting standards and their enforcement.

The DSAAs were conducted in consultation with other donor agencies, government organizations, and accounting and auditing professions. All country studies are divided into two parts. The first part of each country study examines accounting and auditing structures and systems. It also:

  • Analyzes the political, institutional, and regulatory and legal framework on accounting and auditing practice;
  • Identifies gaps and weaknesses in accounting and auditing support available and deviations from international standards;
  • Identifies alternative options to solve the identified weaknesses.

The second part of each country study presents the discussion on country-research findings at in-country workshops. These workshops presented a cross-section of views on the research findings and established ways to move forward to improve accounting and auditing arrangements. The report finally consolidates the overall results and recommendations that were finalized through an international workshop in Philippines.