Haiti: A Review of Accounting and Audit Practices

This report provides a review of accounting and auditing practices in Haiti as part of the World Bank-IMF Financial Sector Assessment Program. It analyzes the institutional framework, professional environment, and standards related to corporate accounting and auditing, comparing local legislation with International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA). The report finds that Haiti's corporate sector accounting and auditing are underdeveloped, with an incomplete and loosely enforced statutory framework. The accounting profession faces challenges including a narrow market base, a poor image, a brain drain, and divisions within the profession. The report recommends short-term and medium-to-long-term actions to improve financial sector stability, encourage private investment, and enhance governance and accountability in public enterprises.