Power and international accounting standard setting
| Autor: | Winston Chee Chiu Kwok, David J. Sharp |
|---|---|
| Rok vydání: | 2005 |
| Předmět: |
medicine.medical_specialty
Mark-to-market accounting business.industry Economics Econometrics and Finance (miscellaneous) Accounting Comparison of management accounting and financial accounting Positive accounting Accounting standard Fair value Management accounting Accounting information system medicine Financial accounting business |
| Zdroj: | Accounting, Auditing & Accountability Journal. 18:74-99 |
| ISSN: | 0951-3574 |
| DOI: | 10.1108/09513570510584665 |
| Popis: | PurposeThis study provides significant empirical data and analysis on the international standard‐setting process as conducted by the forerunner of the International Accounting Standards Board (IASB). It reveals the influences from four key stakeholder groups (users, preparers, accountants, and regulators) in order to ascertain why International Accounting Standards (IAS) turn out the way they do.Design/methodology/approachIn‐depth interviews with board representatives and content analysis of documents were used to provide triangulating perspectives. The concept of power from the sociological and political science literature provides the theoretical lens. The standard setting projects on segment reporting and intangible assets were studied in detail.FindingsThe results show that the process can be best characterized as a mixed power system where no party is accorded the absolute power potential to dictate IAS. Nonetheless, while the user group is the target beneficiaries of IAS, the preparer group has significant influence, as inferred from the changes made to the IAS in line with the preparers' preferences.Research limitations/implicationsThere is always the possibility of researchers missing out on “secret” exercise of power, given that the focus of this study was on “public” paths of influence. After this study, the IASB's meetings became open to public, providing new opportunities for future research.Originality/valueThis paper contributes to understanding accounting standard setting for international harmonization. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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