Factors impacting on the future of the IASB
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Date
Authors
Sacho, Z.Y.
Oberholster, J.G.I. (Johan Gerhardus Ignatius), 1962-
Journal Title
Journal ISSN
Volume Title
Publisher
School of Accounting Sciences, UP
Abstract
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.
Description
Keywords
Financial Accounting Standards Board (FASB), International Accounting Standards Board (IASB), International harmonisation, Form 20-F reconciliation, Principles-based accounting model, Rules-based accounting model, International Financial Reporting Standards (IFRS), International Accounting Standards Committee (IASC), Securities and Exchange Commission (SEC)
Sustainable Development Goals
Citation
Sacho, ZY & Oberholster, JGI 2008, 'Factors impacting on the future of the IASB', Meditari : Accountancy Research, vol. 16, no. 1, pp. 117-137. [http://www.meditari.org.za]