International Accounting and Reporting Issues

2008 Review

image of International Accounting and Reporting Issues

Since the middle of 2007, world financial markets have been experiencing extreme turbulence. The centrality of reliable and comparable information for financial stability and for the ability of investors to assess risk and allocate resources to different investment opportunities has been painfully demonstrated by recent events. In marking UNCTAD’s Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR)’s twenty-fifth anniversary, the UNCTAD secretariat organized a high-level segment that featured prominent speakers, including ministers, discussing the positive contribution of international accounting and reporting standards and codes to financial stability and economic growth. This publication contains ISAR’s deliberations at its twenty-fifth session, and it will provide policymakers, regulators, standard-setters, boards of directors, researchers and other readers with insights into some of the timely issues on corporate reporting.



2008 Review of the corporate responsibility performance of large emerging market enterprises

Corporate environmental, social and governance (ESG) disclosure has been a focus of work for the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) for a number of years. At its twenty-fourth session, in 2007, ISAR reiterated the importance of corporate responsibility reporting for meeting the increasing information demands of various stakeholders. It acknowledged that concise, comparable and performance-oriented reports in that area added value for shareholders and other stakeholders, and promoted sustainable economic development. The group of experts also noted the increasing integration of social and environmental issues into the broader corporate governance framework. ISAR further agreed at its twenty-fourth session that UNCTAD should continue to coordinate its work on this subject with a range of organizations active in the area of corporate responsibility reporting, together with private and public sector stakeholders. It suggested that case studies on corporate responsibility reporting be conducted to provide practical feedback on the status of corporate responsibility reporting around the world.


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