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Foreword | |
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Preface | |
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Acknowledgments | |
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Abbreviations | |
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Overview | |
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Introduction and Background | |
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Importance of Accounting and Auditing for LAC's Economic Development | |
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Accounting and Auditing in the LAC Regional Economic Context | |
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International Momentum for Reform | |
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Reforming A&A in LAC: Three Success Stories | |
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Drivers of Reform in LAC Accounting and Auditing | |
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About This Book | |
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Notes | |
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National Corporate Financial Reporting Frameworks | |
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Completeness | |
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Coherence | |
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Adaptability | |
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Differentiation | |
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Conclusion | |
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Notes | |
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Preserving the Good Name of the Accounting Profession | |
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Structure of the A&A Profession | |
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Role of A&A Professional Bodies | |
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Entry Requirements: Limits of a System Based on University Accreditation | |
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Requirements to Maintain a Professional License | |
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Regulation and Oversight of the Statutory Audit Function | |
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Role of International Organizations and Regional Cooperation | |
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Conclusion | |
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Notes | |
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The Role of Education Systems | |
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Recent Trends in Higher Education | |
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Course Content and Quality of Accounting Curricula | |
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Faculty and Students | |
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Conclusion | |
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Notes | |
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Chapter 5 | |
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IFRS in LAC: Overcoming the Adopt versus Adapt Dilemma | |
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Key Challenges in IFRS Adoption | |
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Establishing a Robust Standard-Setting Framework | |
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National GAAP: An Uncertain Future | |
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IFRS for SMEs | |
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IFRS in the Financial Sector | |
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Adoption of International Standards on Auditing in LAC | |
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Conclusion | |
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Notes | |
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Ensuring Compliance with Accounting and Auditing Standards | |
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Few Incentives to Produce Reliable Financial Information | |
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Enforcement of Financial Reporting Requirements | |
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Enforcement of Auditing and Professional Standards | |
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Disciplinary Regimes | |
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Conclusion | |
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Notes | |
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A Roadmap for Reform | |
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Setting Adequate Requirements | |
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Developing Capacity in Accounting and Auditing | |
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Enforcement | |
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The Role of the World Bank and Other Development Partners | |
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Notes | |
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Appendixes | |
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About the ROSC Accounting and Auditing Program | |
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Coverage of ROSC A&A Program in Latin America and the Caribbean | |
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IFRS Adoption in Latin America and the Caribbean | |
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Country Action Plans: Developing a Strategic Vision for Reform and an Agenda for Action | |
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References and Other Resources | |
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Glossary | |
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Index | |
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Boxes | |
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ROSC A&A Follow-Up Activities | |
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Public Interest Entities [PIEs] | |