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Vietnam pilot-tests ISAR Accountancy Development Toolkit


10 July 2012
Hanoï, Socialist Republic of Vietnam
, Viet Nam

Vietnam volunteered to run an ISAR pilot-test assessment exercise, whose conclusions will be discussed with UNCTAD during the meeting hosted by the Ministry of Finance (MOF) on July 10th in Hanoi.

Vietnamese authorities expressed their interest in benefiting from the ISAR Accounting Development Toolkit (ADT) which aims to provide guidance to decision makers on identifying gaps and setting priorities for accounting development policies towards strengthening national accounting infrastructure to facilitate creating enabling investment environment, to contribute towards financial stability and economic growth. It is based on quantitative indicators which help to assess country's regulatory, institutional and human capacity for high quality corporate reporting. Built on international benchmarks and good national practices, the ADT covers financial and non-financial aspects of corporate reporting, including environmental issues, corporate social responsibility and corporate governance disclosure.

The objective of the event, which is part of the preparatory process towards annual 29th ISAR session, is to discuss the results of the pilot assessment in Vietnam to help focus national efforts on identified priority areas, facilitate stakeholder dialogue on accountancy development in the country, and to incorporate the feedback into further ADT development by UNCTAD. Target participants include high-level officials from the MOF, State Securities Commission, big international audit firms, academia, professional bodies, training institutions and other stakeholders.

In the aftermath of the financial crisis, ISAR's role has significantly increased as G20 highlighted convergence towards a single set of high quality global accounting standards as one of key factors towards strengthening the international financial regulatory system and global financial stability.

Since spring 2012, similar assessment exercises took place in Brazil, China, Côte d'Ivoire, Croatia, Mexico, Netherlands, Russia and South- Africa.

The findings and lessons learned from all these pilot-exercises will be shared during the 29 session of ISAR (30 October to 2 November 2012) in Geneva.

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Co-organizer(s):
Ministry of Finance (MOF)

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