oa Meditari : Research Journal of the School of Accounting Sciences - Factors impacting on the future of the IASB
|Article Title||Factors impacting on the future of the IASB|
|© Publisher:||University of Pretoria|
|Journal||Meditari : Research Journal of the School of Accounting Sciences|
|Author||Z.Y. Sacho and J.G.I. Oberholster|
|Publication Date||Jan 2008|
|Pages||117 - 137|
|Keyword(s)||FASB, Form 20-F reconciliation, IASB, IASs, IFRSs, International harmonisation, Principles-based accounting model, Rules-based accounting model and SEC|
This paper investigates the factors influencing the future of the IASB, using as the point of departure, a review of its historical progression towards becoming the global accounting standard-setting authority. It concludes that the IASB is an organisation vulnerable to (1) political lobbying of influential institutions, (2) US accounting authorities decision makers, (3) potential accounting scandals, and (4) cultural differences resulting in the misapplication of its standards around the world. Such factors should be borne in mind when charting the next steps for the IASB and in evaluating the comparability and quality of accounts produced under IFRSs around the world.
Article metrics loading...