Harmonisation and the conceptual framework: an international perspective

Stewart Jones, Peter W. Wolnizer

Research output: Contribution to journalArticlepeer-review

18 Citations (Scopus)


The release of CLERP 9 (Commonwealth of Australia, 2002) requires the Financial Reporting Council and the Australian Accounting Standards Board to adopt International Accounting Standards (IAS) en bloc as domestic reporting standards by 1 January 2005. This article considers the current and future role and direction of the conceptual framework (CF) under the CLERP proposals and a potential IAS reporting environment after January 2005. It is argued that Australia, which has been a major innovator on CF issues, may suffer a major setback if the International Accounting Standards Board's CF is adopted in January 2005. Furthermore, while the International Accounting Standards Board (IASB) has been aggressively pursuing a set of global accounting standards, it remains unclear whether the IASB will, or can, develop an internationally relevant and generally accepted CF which can guide the development of a globally compatible set of accounting standards.
Original languageEnglish
Pages (from-to)375-387
Number of pages13
Issue number3
Publication statusPublished - Oct 2003
Externally publishedYes


  • accounting
  • concepts
  • harmonization


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