[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109178-en":3,"doc-seo-109178-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109178,962075006959,"Anda","https://ap-avatar.wpscdn.com/avatar/e0002397efbe92a78e?_k=1776741047341049297",8,"Research & Report","Republic of North Macedonia - Report on the Observance of Standards and Codes (ROSC) Accounting and Auditing - Accounting and Auditing Standards","A World Bank ROSC assessment for the Republic of North Macedonia evaluates the country’s accounting and auditing framework, including accounting and auditing standards, institutional arrangements for corporate financial reporting, and sector-specific reporting requirements. The review synthesizes observed financial reporting practices and perceptions across listed companies, banking, insurance, pension funds, state-owned enterprises, and the accountancy profession. It also highlights key changes since the previous ROSC assessment and identifies priority findings and areas for consideration, supported by annexes on progress and EU-related alignment.","Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized  \nNovember 2025  \n© 2026 The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000;  \n[Internet: www.worldbank.org](Internet: www.worldbank.org)  \nThis work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent.  \nThe World Bank does not guarantee the accuracy, completeness, or currency of the data included in this work and does not assume responsibility for any errors, omissions, or discrepancies in the information, or liability with respect to the use of or failure to use the information, methods, processes, or conclusions set forth. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.  \nNothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved.  \nThis publication has been produced with the assistance of the European Union. Its contents are the sole responsibility of the World Bank Group and do not necessarily reflect the views of the European Union.  \nRights and Permissions  \nThe material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given.  \nAny queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: [pubrights@worldbank.org](pubrights@worldbank.org).  \nTable of Contents 1  \nTABLE OF CONTENTS  \nAbbreviations  2  \nPreface  4  \nAcknowledgements  5  \nExecutive Summary 6  \nI. Introduction  18  \nII. Assessment  22  \nA. Accounting and Auditing Standards  22  \nB. Institutional Framework for Corporate Financial Reporting  26  \n1. General Financial and Sustainability Reporting Requirements 27  \n2. Listed Companies  36  \n3. Banking Sector  46  \n4. Insurance Sector  57  \n5. Pension Funds  66  \n6. State-Owned Enterprises  69  \n7. The Accountancy Profession  72  \n8. Professional Education and Training  80  \n9. Audit Regulation, Quality Assurance, and Public Oversight  81  \n10. Setting Accounting and Auditing Standards  89  \nC. Observed Financial Reporting Practices and Perceptions  90  \nIII. Main Changes since the Previous ROSC A&A Assessment  111  \nIV. Key Findings and Areas for Consideration  113  \nAnnex A. Progress on ROSC 2014 Recommendations  121  \nAnnex B. Transposition of EU Requirements Related to the Content of Notes   127  \nAnnex C. Progress of Regulatory Changes Addressed in Draft Laws on Accounting and Audit and Further Alignment with EU Acquis (as of December 31, 2024)  132  \n2 Abbreviations  \nABBREVIATIONS  \nACCA  \nAGM  \nCASAP  \nCAOA  \nCPD  \nCSRD  \nEBRD  \nESG  \nESRS  \nEU  \nEUR  \nFDI  \nGAAP  \nGDP  \nI&D  \nIACA  \nIAASB  \nIAESB  \nIAS  \nIASB  \nICARNM  \nIES  \nIESBA  \nIFAC  \nIFIAR  \nIFRS  \nIFRS for SMEs  \nAssociation of Chartered Certified Accountants Annual General Meeting  \nCouncil for the Advancement and Supervision of the Accounting Profession of the Republic of North Macedonia  \nCouncil for the Advancement and Oversight of the Audit of the Republic of North Macedonia Continuing Professional Development  \nCorporate Sustainability Reporting Directive European Bank for Reconstruction and Development Environmental, Social and Governance  \nEuropean Sustainability Reporting Standards  \nEuropean Union  \nEuro (currency)  \nForeign Direct Investment  \nGenerally Ac","cbCaihQfecXlnmUl","https://ap.wps.com/l/cbCaihQfecXlnmUl","pdf",2135128,2,1,136,"English","en",105,"# Abbreviations\n# Preface\n# Acknowledgements\n# Executive Summary\n# I. Introduction\n# II. Assessment\n## A. Accounting and Auditing Standards\n## B. Institutional Framework for Corporate Financial Reporting\n## C. Observed Financial Reporting Practices and Perceptions\n# III. Main Changes since the Previous ROSC A&A Assessment\n# IV. Key Findings and Areas for Consideration\n# Annex A. Progress on ROSC 2014 Recommendations\n# Annex B. Transposition of EU Requirements Related to the Content of Notes\n# Annex C. Progress of Regulatory Changes Addressed in Draft Laws on Accounting and Audit and Further Alignment with EU Acquis","[{\"question\":\"What does the ROSC accounting and auditing report assess in North Macedonia?\",\"answer\":\"It assesses accounting and auditing standards, the institutional framework for corporate financial reporting, and observed financial reporting practices and perceptions across key sectors.\"},{\"question\":\"Which sectors are covered under the institutional framework for corporate financial reporting?\",\"answer\":\"The report includes listed companies, the banking sector, the insurance sector, pension funds, state-owned enterprises, and the accountancy profession, along with professional education and training and audit oversight.\"},{\"question\":\"How does the report treat changes since the previous ROSC assessment?\",\"answer\":\"It presents main changes since the previous ROSC A\\u0026A assessment and summarizes key findings with areas for consideration, supplemented by annexes on progress and EU requirement alignment.\"}]","Republic of North Macedonia - 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