International Accounting and Reporting Issues

2010 Review

image of International Accounting and Reporting Issues

This volume contains a review of the main developments in the area of accounting and reporting and also the proceedings of the 27th session of the United Nations Conference on Trade and Development’s (UNCTAD's) Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR), held in Geneva. The main agenda item of the 27th session of ISAR was a capacity building framework for high-quality corporate reporting. The study was conducted by examining the corporate governance disclosure requirements of relevant laws and stock exchange listing rules, and comparing these with the ISAR benchmark of good practices identified in the 2006 UNCTAD publication Guidance on Good Practices in Corporate Governance Disclosure.



Recent developments in accounting and reporting

For close to three decades, ISAR has been working towards promoting more reliable and comparable corporate reporting. Part of the activities that it has been undertaking with a view to attaining this objective includes reviewing developments in accounting and reporting. This chapter presents the highlights of major international, regional and national developments in accounting and reporting that occurred during the intersessional period of ISAR. The developments covered in this chapter were compiled on the basis of publicly available information only. Thus, the study is limited in scope and does not cover developments in all member States. The first section of the chapter discusses international developments covering institutions such as the Group of Twenty (G-20), the Financial Stability Board, the International Financial Reporting Standards (IFRS) Foundation and IASB. The second section discusses regional and national developments that have implications for the international convergence of accounting standards.


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