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The Political and Unstable Nature of the IASB's ‘Stable Platform’: Post‐Convergence Australian Experience

The Political and Unstable Nature of the IASB's ‘Stable Platform’: Post‐Convergence Australian... On 31 March 2004, the International Accounting Standards Board (IASB) established the ‘stable platform’ of new and revised standards applicable from 1 January 2005. We review the major changes made by the IASB to its stable platform of standards to illustrate how politics and lobbying influence the standard‐setting process. Furthermore, Australian experience since International Financial Reporting Standards (IFRS) adoption is used to illustrate the impact and extent of these and other changes within the local environment. Continuous changes to IFRS undoubtedly complicate the convergence process, particularly when they are largely indicative of political considerations rather than conceptual underpinnings. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Australian Accounting Review Wiley

The Political and Unstable Nature of the IASB's ‘Stable Platform’: Post‐Convergence Australian Experience

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Publisher
Wiley
Copyright
© 2008 CPA Australia
ISSN
1035-6908
eISSN
1835-2561
DOI
10.1111/j.1835-2561.2008.0022.x
Publisher site
See Article on Publisher Site

Abstract

On 31 March 2004, the International Accounting Standards Board (IASB) established the ‘stable platform’ of new and revised standards applicable from 1 January 2005. We review the major changes made by the IASB to its stable platform of standards to illustrate how politics and lobbying influence the standard‐setting process. Furthermore, Australian experience since International Financial Reporting Standards (IFRS) adoption is used to illustrate the impact and extent of these and other changes within the local environment. Continuous changes to IFRS undoubtedly complicate the convergence process, particularly when they are largely indicative of political considerations rather than conceptual underpinnings.

Journal

Australian Accounting Review – Wiley

Published: Sep 1, 2008

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