Accounting standards during the global financial crisis of 2008-9

the political dimension

Research output: Contribution to journalMeeting abstract

Abstract

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 the use of level-3 assets by non-banking corporate during the financial crisis. While banks are known to have mal-used level 3 measurements to hide troubled assets, little research has been done on non-banking companies.
Original languageEnglish
Pages (from-to)41
Number of pages1
JournalExpo 2012 Higher Degree Research : book of abstracts
Publication statusPublished - 2012
EventHigher Degree Research Expo (8th : 2012) - Sydney
Duration: 12 Nov 201213 Nov 2012

Keywords

  • Standards
  • Accounting
  • Politics
  • Global
  • Crisis

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