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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] | |