International Accounting and Reporting Issues - 2012 Review

image of International Accounting and Reporting Issues - 2012 Review
This publication provides an overview of major trends and challenges on regulatory and institutional developments at global, regional and national levels. It also discusses some of the major challenges such as a need to develop mechanisms to ensure consistent application of international standards and monitoring of compliance, with a higher demand for non-financial reporting and a greater pressure for stakeholder coordination at all levels. Case studies on financial reporting aspects include one on Romania and one on Turkey. Also included are four case studies on non-financial reporting aspects on Romania, corporate climate change-related reporting, Japan disclosure, and stock exchanges role in reporting developments. More case studies cover the human capacity aspect on the training of professional accountants and on professional accounting qualification systems.



Human capacity reporting

Globalization is a trend that is affecting capital markets, financial reporting standards, auditing standards and the free exchange of goods and services across national frontiers. The trend towards globalization has been further encouraged by the growth of emerging market economies, the use of English as a common business language, the efforts of the World Trade Organization (WTO) and others to promote the free movement of qualified accountants worldwide and by the growth of the Internet as a means of global communication. Since accountancy can be said to be the language of business, it has a key role to play in binding the global marketplace together.


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