e-journal

Transnational standard setting in accounting

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Purpose – The last four decades have seen the rise of the International Accounting Standards Board
(IASB) as the core locus of transnational accounting regulation. Initial steps of associational
cooperation were superseded by establishing a standard setting organization that heavily draws on
consultation procedures. The purpose of this paper is to focus on recent changes in governance and
accountability of IASB in the aftermath of the financial crisis. Emphasis is given to the organizational
configuration, the ambivalence of consultation procedures and reactions to mounting criticism after
the crisis. The paper proposes that IASB is the heart of a new transnational regulatory constellation
in accounting.
Design/methodology/approach – The material and analysis presented in the paper derives from
an extensive review of official reports, consultation documents and related responses and a range of
additional information available on IASB’s web page.
Findings – The paper analyzes how IASB uses legitimation strategies to defend its position as a
transnational standard setter. From analysis of recent changes, the paper reveals a growing reliance
on – and domination through – consultation procedures. The paper also shows the IASB’S swift action
to counter substantial criticism emerging with the financial crisis.
Practical implications – By highlighting developments surrounding IASB, its governance
structure and the emphasis on consultation, the paper establishes the importance for public policy of
further study and debate the operation of IASB. It could also contribute to re-politicize accounting
regulation at the transnational level.
Originality/value – IASB is an integral player in global financial governance processes and is
only recently receiving substantial academic accounting research. This paper seeks to provide an
introduction and critical account of the organization’s development.

Keywords Legitimacy, Financial crisis, Due process, IASB, Transnational regulatory constellation

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Informasi Detail

Judul Seri

Accounting, Auditing & Accountability Journal

No. Panggil

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Penerbit

: Emeral Group., 2014

Deskripsi Fisik

Accounting, Auditing & Accountability Journal Vol. 27 No. 6, 2014 pp. 933-955

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

AKUNTANSI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati/Syahrial

Versi lain/terkait

Lampiran Berkas

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