The political and unstable nature of the IASB's 'stable platform'

Post-convergence Australian experience

Parmod Chand*, Lorne Cummings

*Corresponding author for this work

Research output: Contribution to journalArticle

8 Citations (Scopus)

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.

Original languageEnglish
Pages (from-to)175-184
Number of pages10
JournalAustralian Accounting Review
Volume18
Issue number3
DOIs
Publication statusPublished - Sep 2008

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