Corporate Financial Reporting in Austria

The purpose of this report on corporate
financial reporting in Austria is to describe the key
features of Austria’s corporate financial reporting
environment as well as its practical application in regard
to small and medium enterprises (SMEs’) financial reporting
practices in Austria. This report builds on the World Bank
accounting and auditing reports on standards and codes
(ROSC) methodology to give an overview of the Austrian
corporate financial reporting system. It selectively
provides good practice examples that can give incentives to
overcome impediments to financial reporting reform. Based on
the findings of two surveys conducted among Austrian SMEs
and Austrian financial institutions, the report focuses
particularly on aspects relevant to SME financial reporting.
This report forms part of the activities of the center for
financial reporting reform (CFRR) within the road to Europe
program of accounting reform and institutional strengthening
(REPARIS), which also provided funding.