Other business - Accounting and reporting by microenterprises and small and medium-sized enterprises as a means towards financial inclusion

The Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting,

       Having reviewed the progress made by the UNCTAD secretariat on the implementation of a component on accounting for microenterprises and small and medium-sized enterprises of the technical assistance project, under the United Nations Development Account, entitled “Support developing country policymakers in the formulation of national entrepreneurship policies through the implementation of Entrepreneurship Policy Frameworks”,

1. Takes note of the critical role that accounting plays in improving the financial inclusion and financial literacy of stakeholders of microenterprises and small and medium-sized enterprises, thus enabling them to grow, create new jobs and contribute to sustainable and inclusive growth, as highlighted in the outcomes of two regional workshops conducted successfully by the UNCTAD secretariat in Latin America and Africa during the intersessional period;
    
2. Invites the UNCTAD secretariat, subject to availability of funding, to conduct further work in assisting member States in the implementation of the recommendations identified in the regional workshops, such as regulatory, institutional and human capacity, capacity-building on accounting for microenterprises and small and medium-sized enterprises and facilitation of stakeholder coordination at the national and regional levels, including regulators, standard-setters, capital and financial services providers, and promotion agencies and associations for microenterprises and small and medium-sized enterprises.