PracticeAuditUN strikes agreement to boost accounting standards

UN strikes agreement to boost accounting standards

A cooperation agreement has been struck between the International Federation of Accountants (IFAC) and the United Nations Conference on Trade and Development (UNCTAD).

The two organisations will work together to boost accounting standards in developing countries and so-called transitional countries, such as in eastern Europe.

A joint project team will develop accounting education programmes, for instance. Also, they will cooperate in boosting corporate governance standards and public transparency. IFAC will participate in UNCTAD accounting-related committees, task forces and events.

UNCTAD will serve on IFAC?s education committee that is currently being reorganised, and on its developing nations permanent task force. UNCTAD already services the UN?s Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR), which promotes good practice in corporate reporting and disclosure in poorer countries.

UNCTAD said: ?The two organisations share the objectives of achieving greater transparency and accountability with a view to strengthening the international financial system and contributing to economic growth.?

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

35m Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

5d Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

1w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

1m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter