Report on the observance of standards and codes (ROSC): Kingdom of Morocco

REPORT ON THE OBSERVANCE OF STANDARDS AND CODES (ROSC) Kingdom of Morocco (Morocco) ACCOUNTING AND AUDITING July 25, 2002 Contents Executive Summary I. Introduction II. Institutional Framework III. Accounting Standards as Designed and as Practiced IV. Auditing Standards as Designed and as Practiced V. Perception of the Quality of Financial Reporting VI. Policy Recommendations Executive Summary This report provides an assessment of Moroccan accounting and auditing standards and practices, and the institutional capacity necessary to ensure high-quality financial reporting. The law gives accounting standard-setting responsibility to the National Accounting Council (Conseil National de la Comptabilit