The internationalization of-capital markets and ever increasing
investments of multi-national corporations in different countries
has doubled the necessity of relevancy, timeliness and
comparability characteristics of accounting information and
financial reports of these corporations.
The developments in the process of unifying accounting
standards on national, regional and international level as well as a
summary of international efforts in the process of harmonization
and unification of accounting standards by regional and
international organizations have been explained in this article.
The changes which as required by the U. S. Securities and
Exchange Commision (S E C) of the corporations which have to
be audited in 1993, and also the Securities Exchange Law of 1934
have been delineated. Finally propositions about qualitative
development of financial statements disclosure of multi-national
corporations have been offered.
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