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In Kiribati public enterprises hire their own accounting staff from small local firms, whilst the accounting staff of ministries, comes from a central accounting cadre from within the Ministry of Finance and Economic Development. The Kiribati National Audit Office is the independent state organisation responsible for carrying out audits for government departments, government companies, annual accounts (Treasury), local government or island councils, development project, special audits and performance and IT Audits. All public financial statements are prepared in accordance with the legislation (1976 Public Finance (Control and Audit) Act), but there are no national accounting standards in Kiribati, and no institutions officially compliant with international public sector accounting standards. In the 2011 World Bank’s Ease of Doing Business Index Kiribati ranked last in the world (out of 183 countries) for resolving solvency reporting standards, alongside several other small island developing nations.