ABSTRACT
The chapter points to influences and pressures on the development of corporate reporting globally. Pressures on accounting and auditing standards tend to become greater at the time of a major national or international crisis. After the global financial crisis of 2008, the G20 governments set targets for improvement, which the International Accounting Standards Board (IASB) addressed with other standard setters through the Financial Stability Board (FSB). Concerns about corporate reporting of sustainability led to the establishment of the International Integrated Reporting Council (IIRC), but as it developed it moved towards explaining to providers of financial capital how an organisation creates value over time. The integrated report has been designed to inform a range of stakeholders, but the focus appears to have moved towards identifying value for investors. The accountancy profession co-operates, through IFAC and its related boards, in developing standards of ethics and standards for professional education. Regional groupings of professional bodies provide support for the development of accounting, particularly in emerging economies, and in reflecting specific needs such as those of Islamic financial institutions.
