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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.

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2009 review of the implementation status of corporate governance disclosures: An inventory of disclosure requirements in 24 emerging markets

Corporate governance has been a major area of work for the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) since 1989 (E/C.10/AC.3/1989/6). Since the twenty-first session of ISAR, the group of experts has requested an annual review of the implementation status of corporate governance disclosure. Annual reviews were presented at the twenty-first, twenty-second, twenty-third, twenty-fourth and twenty-fifth sessions of ISAR. At the twenty-fourth session, ISAR considered the document “2007 Review of the implementation status of corporate governance disclosures: an inventory of disclosure requirements in 25 emerging markets” (TD/B/COM.2/ISAR/CRP.6, hereafter the “2007 CG Inventory”). For ISAR’s twenty-fifth and twenty-sixth sessions, respectively, UNCTAD prepared the documents “2008 Review of the implementation status of corporate governance disclosures: an examination of reporting practices among large enterprises in 10 emerging markets” (TD/B/C.II/ ISAR/CRP.1, hereafter the “2008 CG Review”) and “2009 Review of the implementation status of corporate governance disclosures: an examination of reporting practices among large enterprises in 12 emerging markets” (TD/B/C.II/ISAR/CRP.6), hereafter the “2009 CG Review”). UNCTAD’s studies on this subject use as a benchmark ISAR’s conclusions on corporate governance disclosure found in the 2006 UNCTAD publication Guidance on Good Practices in Corporate Governance Disclosure (UNCTAD/ITE/ TEB/2006/3).

English

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