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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.

English

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2009 review of the implementation status of corporate governance disclosures: Case study of Pakistan

ISAR has been working in the area of corporate governance since 1989 (E/C.10/AC.3/1989/6). During the twenty-first session of ISAR in 2004, the group of experts requested the development of an annual study to assess the state of reporting on corporate governance. This resulted in a series of annual reviews and individual country case studies presented at subsequent ISAR sessions. These annual reviews examined corporate governance disclosure practices around the world, with a special focus on emerging markets. The studies were facilitated by the development of ISAR’s benchmark of good practices in corporate governance disclosure. This benchmark consists of over 50 individual disclosure items and is explained in detail in the UNCTAD publication Guidance on Good Practices in Corporate Governance Disclosure (UNCTAD/ITE/TEB/2006/3). This publication was the outcome of ISAR deliberations, particularly those of the twenty-second session. At the twenty-fifth session, the group of experts requested that UNCTAD continue to carry out such studies, in partnership with local institutions wherever possible, and with a focus on providing practical information to policymakers, investors and other stakeholders.

English

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