摘要：The emerging financial crises during the previous decade urged international economic related organizations to realize
that economic concerns in any country could place adverse, widespread impacts upon the economic and financial stabilities of
others. In this light, there have been various initiatives to develop and establish frameworks for the conducts of economic and
financial activities as internationally accepted standard. Meanwhile, more emphasis has been placed upon assessment to ensure
that economic and financial practices of all participating countries follow the international standards. The assessment conducted
definitely help identifying any weaknesses that could ultimately lead toward economic and financial fragility in the economies
while help preventing another round of economic crisis, accordingly.
Since January 1999, the Reports on the Observance of Standards and Codes (ROSCs) program was initiated by
the International Monetary Fund (IMF), in conjunction with other multinational entities named the World Bank, Bank for
International Settlements (BIS) and the Organization for Economic Co-operation and Development (OECD). Such initiative was
designed to provide consultation services for member countries upon setting priorities on economic reform and development while
encouraging member countries to enhance their transparencies on data compilation practices as well as economic and financial
activities. In addition, countries participated in the program according to their own volitions.
