International Accounting and Reporting Issues

2002 Review

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This report contains proceedings of the nineteenth session of the International Standards of Accounting and Reporting (ISAR). The session dealt with two main agenda items – accounting for small and medium-sized enterprises and transparency and disclosure requirements for corporate governance.



Accounting by small and medium-sized enterprises

In introducing the agenda item, the chairperson stated that ISAR’s eighteenth session had asked the ad hoc consultative group to further refine the draft guidelines on accounting by SMEs taking into account the recommendations of the eighteenth session. The ad hoc consultative group had also been requested to elaborate on the guidance for Level 3 entities so that interim guidance could be developed as soon as possible. During the intersession period, the ad hoc consultative group had exchanged views by electronic mail as well as at a meeting in Geneva in April 2002. The chairperson drew delegates’ attention to the relevant documentation on the agenda item, namely documents TD/B/COM.2/ISAR/16 and addenda 1 through 4.


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