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.




In the aftermath of the financial crisis of 2007–2008, continued efforts are being made towards improving the quality of corporate reporting as an essential part of measures towards strengthening the international financial architecture. High-quality corporate reporting is key to improving transparency, facilitating the mobilization of domestic and international investment, creating a sound investment environment, fostering investor confidence and promoting financial stability. A strong and internationally comparable reporting system facilitates international flows of financial resources while at the same time helping to reduce corruption and mismanagement of resources. It also strengthens the international competitiveness of enterprises by attracting external financing and benefiting from international market opportunities.


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