Purpose: To study political aspects of accounting standard setting. Originality: This aspect of the global financial crisis has not been addressed by the literature before. Key literature/theoretical perspective: Critical perspectives on accounting. Design/methodology/approach: Historical narrative. Findings: The thesis papers focus on the history of mark-to-market accounting during the global financial crisis from 2008 to 2010. Banks claimed that mark-to-market had caused or exacerbated the crisis. Those opposed to the banks (accounting professionals, standard setters, advocacy groups) claimed that mark-to-market gave appropriate valuations of financial businesses that had mismanaged their own investment risks. Despite these defenses, in October 2008 and April 2009 mark-to-market was severely downgraded by standard setters in the US and the International Accounting Standards Board. This expo presentation focuses on a content analysis of comment letters concerning mark-to-market that were sent to the US Securities and Exchange Commission during the crisis. Research limitations/implications: Implications for accounting standard policy. Practical and social implications: Understanding of political activity.
|Number of pages||1|
|Journal||Expo 2011 Higher Degree Research : book of abstracts|
|Publication status||Published - 2011|
|Event||Higher Degree Research Expo (7th : 2011) - Sydney|
Duration: 10 Oct 2011 → 11 Oct 2011