International Accounting and Reporting Issues

2009 Review

image of International Accounting and Reporting Issues
Over the last two years, the world economy has gone through a major crisis. The twenty-sixth session of UNCTAD’s Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) provides an important opportunity for examining various issues pertaining to corporate accounting and reporting in the context of the financial crisis. The objective of this work is to assist developing countries and countries with economies in transition in their efforts towards the practical implementation of International Financial Reporting Standards.



Review of practical implementation issues of international financial reporting standards: Impact of the financial crisis

The Chair invited the UNCTAD secretariat to introduce the agenda items that the session would be dealing with. In his introductory remarks, the Director of the Division on Investment and Enterprise provided a broader context within which the work of ISAR was being undertaken in UNCTAD. He indicated that UNCTAD’s work consisted of three pillars, i.e. research, consensus-building and technical cooperation. He highlighted a number of flagship products that the Division on Investment and Enterprise had been producing over the years, including the World Investment Report. He identified ISAR as one of the flagship activities, and highlighted the importance of ISAR’s work in the context both of the Division on Investment and Enterprise and of UNCTAD.


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