Abstract

This report gives an overview of the key results from the analysis of the data collected in a survey conducted in October and November 2012 by the Austrian Institute for small and medium enterprise (SME) research on behalf of the World Bank center for financial reporting reform (CFRR). The survey was carried out using an online questionnaire and captures data from more than 780 SMEs that are representative of the Austrian SME sector. The primary purpose of this report is to assist the accounting and auditing profession, policy makers, and users of financial information in understanding the value and the constraints of SMEs’ financial reporting practices. It also feeds into a broader CFRR study on corporate financial reporting reform in Austria. The report presents the results of the survey grouped by topical areas as follows: accounting practices in Austrian SMEs; auditing financial statements; SME financing; and financial reporting and access to finance. Document type: Book

Abstract

In the past decade, Latin America and the Caribbean has achieved impressive social and economic successes. For the first time in history, more people are in the middle class than in poverty. Inequality, although still high, declined markedly. Growth, jobs and effective social programs have transformed the lives of millions. In a striking departure from the crisis-prone Latin America of the past, the region has shown it is better prepared to weather the brunt of the global economic slowdown. Now, the region faces the challenge of maintaining and expanding its hard won gains in an adverse context of low growth. This is caused in part by a decrease in commodity prices and reduced economic activity in major commercial partners such as China. In such a scenario, achieving development results - and learning from them - becomes more important. This publication showcases stories about people and how their lives have been improved through better health and education, youth employment, disaster recovery and preparedness, infrastructure, and more.