Report on Compliance with Standards and Codes (ROSC)

Insurance Agency of the Republic of Srpska has given its contribution to the drafting of the Report on Observance of Standards and Codes (ROSC) – Accounting and Audit Overview (A&A).

This review deals with the assessment of the comparibility of domestic standards for accounting and audit with the International Financial Reporting Standards (IFRS) that is, International Standards for Audit (ISA) and the level of actual compliance with standards which are applied on the financial reports of the business entities prescribed by law.

The assessment was performed on the basis of the diagnostic tool, developed by the World Bank.