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India Elected by Acclamation to UN's ISAR for 2025–2027 Term.

International | Dated: 09 Apr 2025

In April 2025, India was elected by acclamation to the United Nations Intergovernmental Working Group (IWG) of Experts on International Standards of Accounting and Reporting (ISAR) for a three-year term from 2025 to 2027. This reflects India’s growing leadership in global financial governance and international standard-setting platforms.

🎯 Key Highlights:

  • - As a member of ISAR, India will contribute significantly to shaping global standards in financial reporting. Its participation strengthens efforts to enhance transparency, accountability, and uniformity in both financial and non-financial reporting practices across nations, further reinforcing India’s position in international policy-making related to corporate disclosure and sustainability.
  • - ISAR was formed in 1983 by the United Nations Economic and Social Council (ECOSOC). It is coordinated by the United Nations Conference on Trade and Development (UNCTAD), based in Geneva, Switzerland. ISAR conducts annual sessions in Geneva to address emerging global issues in enterprise accounting and corporate reporting frameworks.
  • - The main mandate of ISAR is to help member states improve the quality and international comparability of financial reporting. It also covers non-financial disclosures, focusing on critical areas like environmental sustainability, corporate governance, and corporate social responsibility (CSR), ensuring that companies provide holistic and transparent reports to stakeholders.

💡 Other Important Facts:

  • (i) ISAR consists of 34 formal member countries, each serving a three-year term. The representation is regionally balanced with 9 members from Africa, 7 from Asia, 6 from Latin America, 3 from Eastern Europe, and 9 from Western Europe and other states. This structure ensures diverse and inclusive perspectives on global accounting standards.
  • (ii) ISAR organizes elections twice every three years, usually around April or May. Member countries are selected without financial obligations, making participation accessible and focused purely on knowledge-sharing and global cooperation. India’s acclamation reflects its widespread support and respect within the international financial reporting community.
  • (iii) Current ISAR members include a wide range of countries such as the United States, United Kingdom, China, Russia, Brazil, Germany, Saudi Arabia, Nigeria, Mexico, Philippines, Zambia, and Zimbabwe. This diverse membership enables ISAR to address varied regional issues and contribute to the global harmonization of corporate reporting standards.

📚 Test Your Knowledge:

Which country was recently elected by acclamation to the UN’s ISAR for the 2025–2027 term?

Correct Answer: India

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