International Standards of Accounting and Reporting (ISAR)

International Standards of Accounting and Reporting (ISAR) by UNCTAD promotes global best practices in financial, sustainability, and corporate reporting to enhance transparency and accountability, especially in developing countries.

Context: India has been elected uncontested to the United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR). Tenure: 2025–2027

About International Standards of Accounting and Reporting (ISAR)

International Standards of Accounting and Reporting (ISAR) is a United Nations body that promotes global accounting and reporting standards.
It was created by ECOSOC in 1983 and coordinated by UNCTAD.
It holds its annual sessions in Geneva to address emerging issues in enterprise accounting and reporting.

Objectives of ISAR

Corporate financial reporting.
Accounting standards.
Environmental, social and governance (ESG) disclosures.

Focus Areas

Financial and non-financial reporting
Sustainability and climate-related disclosures
Corporate governance and social responsibility
SME accounting frameworks and capacity building

Importance of ISAR

ISAR has a critical role in synchronizing global accounting with global standards like:
- IFRS (International Financial Reporting Standards)
- SDGs (Sustainable Development Goals)
- ESG (Environmental, Social, and Governance) criteria