What is the purpose of the ADT?
Implementation of international standards, codes and regulations applicable to corporate reporting are an essential to attract financial resources. Investors look for transparent and consistent corporate information in order to make adequate and informed decisions. A universal business language is crucial for investors to compare investment opportunities and allocate their resources in an affective and profitable manner. In the face of these challenges, the need for a coherent approach towards capacity-building in this area has become evident.
Responding to these capacity building needs UNCTAD-ISAR has been developing the Accounting for Development Tool (ADT).
The ADT acknowledges the pivotal role accounting plays. Using international standards and best practices in the areas of accounting and auditing, the ADT is a quantitative tool for measuring the level of development of a country’s accountancy environment. The ADT provides a quantitative benchmark of a country’s position at a point in time and its progress toward greater implementation of these standards and practices. Information gathered could be made available to donor agencies, regulators, professional associations, educators, and other capital market participants.