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Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting, Fifteenth session
11 February 1998 - 13 February 1998

Geneva

Key Issues

Many governments in developing countries have been working to improve public governance, but few have done so in the context of promoting foreign direct investment (FDI). A focused approach on governance-related issues that affect investors may be needed in countries where the attraction of FDI is a priority.

Based on country experiences, international experts and government representatives will examine the question of what constitutes good governance in investment promotion, how public governance can be improved (especially in developing countries) and the increasing importance of corporate governance. Special attention will be given to the role of national investment promotion agencies in improving governance in the public and private sectors.

Experience gained through UNCTAD programmes will also be discussed. In an issues note prepared for the meeting, four elements to good governance in investment promotion are identified, starting with transparency and predictability of laws, regulations and procedures that affect FDI. This implies that the regulatory framework should be clear, accessible and consistent. Another element is accountability within the civil service, especially in government institutions that deal with investors. This includes the application of performance standards and the availability of grievance procedures for investors. A fourth important element is the degree of participation by or dialogue with private-sector groups and other stakeholders regarding government initiatives to modify laws and regulations. Through these consultations, governments demonstrate their good intentions and keep the private sector informed of possible legal and procedural changes.

The Expert Meeting will include a special session presenting UNCTAD´s Investment Policy Review of Benin.

Documents

Notification

The fifteenth session of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) is scheduled to be held from 11 to 13 February 1998. The session will take place at the Palais des Nations in Geneva, and will commence at 10 a.m. on Wednesday, 11 February.

The meeting is being convened on the basis of a decision taken by the Commission on Investment, Technology and Related Financial Issues at its second session. It will discuss issues relating to environmental accounting, i.e. examination of national standards and regulations for environmental financial accounting, and identification of key environmental performance indicators and their relation to financial performance. The provisional agenda, together with the secretariat´s annotations thereto, has been circulated as document TD/B/COM.2/ISAR/1.

To facilitate the discussions, the UNCTAD secretariat has prepared a report on "Environmental financial accounting and reporting at the corporate level" (TD/B/COM.2/ISAR/2).

States members of UNCTAD are requested to submit to the UNCTAD secretariat by 30 January 1998 the names of their experts who will participate in the session. In previous sessions, the experts have come from both the Government and/or professional associations/organizations and have been responsible for formulating accounting standards in their respective country. United Nations bodies and programmes, specialized agencies and intergovernmental bodies, should they wish to participate in the session, as well as non-governmental organizations in the General Category and those in the Special Category which wish to participate as observers, are requested to inform the UNCTAD secretariat of the names of their representatives by the same date.

All communications concerning representation at the session should be sent to the UNCTAD secretariat, Intergovernmental Support Services, Palais des Nations, CH-1211 Geneva 10. (fax: +41 (0)22 907 00 56; tel: +41 (0)22 907 5797; e­mail: correspondence@unctad.org). All other enquires should be addressed to the Secretary of the Intergovernmental Working Group of Experts. (tel: +41 22 917 5797; fax: +41 22 907 0056; e-mail: james.zhan@unctad.org).

(signed)
Rubens Ricupero
Secretary-General of UNCTAD
23 December 1997
MEETINGS
United Nations Conference on Trade and Development
Palais des Nations, 8-14, Av. de la Paix, 1211 Geneva 10, Switzerland

T: +41 22 917 1234
F: +41 22 917 0057
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