Action taken by the Trade and Development Board 2016
Practical implementation of compliance monitoring and the enforcement of accounting and audit requirements for high-quality reporting
Agreed Conclusions
6 Oct 2016
Related meeting:
Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting, thirty-third session
- Delegates at the thirty-third session of the UNCTAD Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting welcomed the outcomes of the fourteenth quadrennial conference of UNCTAD. The session underscored the importance of the contribution of the private sector to the realization of the Sustainable Development Goals and the critical role that high-quality financial and non-financial reporting plays in monitoring their implementation, enhancing financial stability, strengthening an enabling investment climate, and facilitating transparency and good governance. Delegates noted the evolving trend of the increasing role sustainability reporting plays in the agenda on accounting and reporting at the global, regional and national levels, as well as the need to adapt corporate reporting environments to the new demands spurred by the 2030 Agenda for Sustainable Development. They also emphasized the need for capacity-building in this area and the importance of stakeholder cooperation.
- The Group of Experts underscored the critical role played by national systems of monitoring of compliance and enforcement in achieving high-quality reporting. It discussed recent developments in this area and reviewed progress made by UNCTAD, in coordination with the Consultative Group during the intersessional period, on finalizing the discussion paper entitled “Monitoring of compliance and enforcement for high-quality corporate reporting: Guidance on good practices”. The Group of Experts stressed the timeliness and relevance of the document in advancing capacity-building in this area in developing countries and countries with economies in transition. In concluding deliberations on this agenda item, the Group requested UNCTAD to incorporate comments and suggestions made by the delegates during the session into the draft document and publish it as a guiding document for wider dissemination. Delegates also requested UNCTAD to continue facilitating the sharing of good practices in this challenging area, including by preparing additional country case studies.
Related
Agreed Conclusions , Closing plenary
Agreed Conclusions , Closing plenary
Agreed Conclusions , Closing plenary meeting
Agreed Conclusions 579 (EX-LXXIV), Closing plenary meeting
