Dennis Brown

, ICAJ Council member, Chairman of the Accounting Standards Committee, and Partner at PricewaterhouseCoopers, has received the approval of Council accept an invitation to serve on a new International Standards on Accounting and Reporting (ISAR) Consultative Group, formed by the United Nations Conference on Trade and Development (UNCTAD).

The aim of the consultations is to formulate a framework for capacity-building in the area of international standards on accounting and reporting. The Consultative Group was formed as a result of a request of UNCTAD’s Intergovernmental Working Group of Experts on ISAR. This request resulted from ISAR discussions during its 25th and 26th sessions on capacity-building needs of developing countries and countries with economies in transition, to enable them to meet international requirements in accounting and reporting. At its 26th session in 2009, ISAR requested the reconstitution of a Consultative Group to formulate a capacity-building framework for consideration by the 27th session of ISAR, scheduled to take place in Geneva October 12 to 15, 2010.

The Consultative Group comprises representatives of main stakeholders in corporate reporting, including regulators, preparers and users of reports, as well as leading agencies dealing with the post-crisis reform aimed at strengthening the international financial regulatory system. The Group first meets in Geneva, April 22-23, 2010, and members will exchange views and draft a capacity-building framework, including a measurement methodology for assessing a country’s progress and priorities in this area.

A member of the ICAJ Council for almost 10 years, Mr. Brown has been Chairman of the Accounting Standards Committee for as many years. When Jamaica made the move to adopt International Accounting Standards with effect from July 2002, Mr. Brown was one of the main persons leading the change. ICAJ’s President, Archibald Campbell, has expressed pride and delight that the Institute was invited to be a part of the Group and has every confidence in Mr. Brown’s ability to represent the best interests of Jamaica’s accountants.

UNCTAD is the focal point within the UN for corporate accounting and reporting issues. It services ISAR, which was created in 1982 by the Economic and Social Council of the UN. ISAR’s objective has been to assist developing countries and countries with economies in transition in their efforts geared towards harmonisation of their national reporting standards and codes with international requirements. ISAR’s annual sessions provide an open forum for up to 300 participants from all over the world. These participants represent regulators, standards-setters, professional bodies, academics, other private and public sector agencies. During ISAR’s annual sessions, experts discuss the most urgent issues in accounting and reporting, and the best practices for addressing them to gain financial stability, investment facilitation and economic growth.