This report is part of the 2011 ROSC Initiative review. It focuses on generating additional inputs for an informed assessment of the effectiveness of the Initiative in strengthening institutions in member countries. In particular, it analyses in detail a sample of twenty-two specific country experiences-at least two for each standard currently included in the Initiative. The review of specific country experiences with ROSC exercises-diagnosis and implementation of recommendations and follow-up-contributes to evaluate the extent to which ROSCs have been instrumental in identifying institutional weaknesses and contributed to promote financial reform and reduce financial vulnerability. This is an independent review prepared by an external consultant.