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Accounting and reporting needs of microenterprises and small and medium-sized enterprises and the role of accounting and reporting in facilitating the formalization of businesses in the informal sector

Medidas adoptadas por la Junta de Comercio y Desarrollo 2023
Accounting and reporting needs of microenterprises and small and medium-sized enterprises and the role of accounting and reporting in facilitating the formalization of businesses in the informal sector
Conclusiones convenidas
Item 4
19 oct. 2023

 

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

Reiterating resolution 77/160 of the General Assembly of the United Nations, which recognized the importance of microenterprises and small and medium-sized enterprises for the economic growth of member States and the role of microenterprises and small and medium-sized enterprises in supporting the achievement of the Sustainable Development Goals,

Recognizing the significant progress that has been made over the past two decades towards providing microenterprises and small and medium-sized enterprises with accounting and reporting guidance proportionate to their size and the positive influence that the accounting and financial reporting guidelines for small and medium-sized enterprises issued by the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting have had in facilitating member States’ efforts towards this objective,

Emphasizing the significant benefits that member States can attain by supporting the sustained formalization of microenterprises and small and medium-sized enterprises in the informal sector,

Recognizing that accounting and reporting standards can affect the formalization and successful operation of microenterprises, and that digital solutions can support Government formalization and private sector development objectives,

  1. Commends the UNCTAD secretariat for organizing informative panel discussions on the topic and for the background document prepared for the session (TD/B/C.II/ISAR/106);
  2. Requests the UNCTAD secretariat to continue to conduct periodic reviews on the topic with a view to facilitating the sharing of good practices among member States on issues such as the simplification of accounting and reporting requirements for microenterprises; the promotion of financial literacy for microentrepreneurs; and capacity- building in accounting and reporting, within a broader framework of government initiatives on private sector development;
  3. Requests the UNCTAD secretariat to continue to support member States, particularly developing countries, with efforts geared towards the sustained formalization of microenterprises and small and medium-sized enterprises in the informal sector, including through technical cooperation projects, and invites donors in a position to do so to support the secretariat in this effort.