Intent is to build guidance tool to improve nation´s capacity for high-quality corporate reporting
Hanoi, 6 June 2011 - High-level Vietnamese Government officials and UNCTAD experts held a 31 May round table to discuss the current status of accounting, auditing, and related education in the country and to debate the challenges and opportunities of building national capacities in these fields.
Government authorities, regulators, standard-setters and academic representatives attended. The event was co-organized by UNCTAD and the Vietnamese Ministry of Finance, with the support of the Association of Chartered Certified Accountants (ACCA).
UNCTAD Secretary-General, Supachai Panitchpakdi, has long contended that "corporate reporting is one of the key components for reforming the financial architecture". The meeting reflected the increasing relevance of accountancy for the development agenda. Building capacities will enhance countries´ positions in international markets and help attract investors.
UNCTAD´s objective is to provide a practical guidance tool to assist Viet Nam in identifying priority areas for further capacity-building and technical assistance when needed. Based on international benchmarks and good national practices, the UNCTAD tool covers financial and non-financial aspects of corporate reporting, including environmental issues, corporate social responsibility, and corporate governance disclosure.
Findings and lessons learned from this roundtable will be shared during the twenty-eighth session of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR), 12-14 October 2011, in Geneva. UNCTAD is serving as host of the ISAR session.
For more than 25 years, ISAR has been the focal point within the United Nations system for issues of corporate transparency and accounting. Through ISAR, UNCTAD works to promote international best practices in corporate reporting and disclosure and to assist developing countries in building their technical capacities in this area.
More information is available at www.unctad.org/isar or by e-mail isar@unctad.org.
