Brazil

The objectives of the workshop were: 'to promote understanding of the challenges of innovation and skills development policies in Ceara and to discuss strategies to... Show More + increase the impact of the State Innovation Policy'. The objective of the preliminary background paper was to provide a summary of the current situation of the state system of innovation in Ceara for the conference. It sought to provide the facts from which the participants could begin to develop suggestions and directives for the improvement of public policies to stimulate the generation and utilization of knowledge to improve the competitiveness of the state and the welfare of its citizens. The document also stated that there was an expectation that the workshop would help to establish a methodology for a preliminary set of criteria to define priorities and actions to be considered for a cooperation project between the Government of the State of Ceara and the World Bank to support the strengthening of the state's system of innovation. This background document gave some analysis of the situation of the state, and a good overview of the many agencies and programs of the state. This information was all descriptive: it was beyond the scope of the background report to include evaluation of coherence, analysis of the overlap of the multiple programs, or evaluation of results or overall impact. Show Less -

This report provides an assessment of accounting, financial reporting, and auditing practices within the corporate sector in Brazil, using International Financial Reporting... Show More + Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks, and drawing on international experience and good practices in those fields. The main objective of this Report on the Observance of Standards and Codes (ROSC) assessment is to assist the Government in strengthening private sector accounting and auditing practices, and in enhancing financial transparency in Brazil's corporate sector. The development objectives these efforts address are improving the investment climate, fostering competitiveness and furthering regional and international economic integration. Brazil is the largest economy in South America, with an estimated 187 million inhabitants and US$ 1,067 billion of Gross Domestic Product (GDP) in 2006. To increase investments in infrastructure, it seeks to reduce its cost of doing business and to improve enterprises' access to long term financing. Banks and, more recently, the capital market are the main source of financing for the private sector. Brazil has one of the most dynamic securities markets in Latin America, with almost 400 domestic companies listed on the Sao Paulo stock exchange; 37 of these are also listed in the US. Brazil's strategy to boost the development of its private sector will benefit from the further development of the stock market, which requires Brazilian corporations' financial reporting to meet the highest international standards. Show Less -