1887

International Accounting and Reporting Issues

2002 Review

image of International Accounting and Reporting Issues

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.

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Preface

Within the international business world, 2001 and 2002 will be remembered largely for the magnitude and frequency of corporate collapses. Market capitalization of very large proportions was erased, and with it the lifetime savings of many investors, pensioners, employees and other stakeholders. Capital markets in the United States alone lost capitalization on the order of $8 trillion. These major corporate failures called into question the adequacy of financial and non-financial disclosure provided through corporate annual reports.

English

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