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The financing of the IASB: An analysis of donor diversity

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  • Larson, Robert K.
  • Kenny, Sara York

Abstract

The U.S. Securities and Exchange Commission (SEC) and others are concerned about the funding of the International Accounting Standards Board (IASB), which is widely recognized as the global accounting standard-setting organization. Issues raised include the long-term viability and legitimacy of the IASB due to its historic reliance on voluntary donations, which in turn has led to questions about the IASB's independence and whether donors to the IASB might be able to exert undue influence in the standard-setting process. These issues are critical factors in the SEC's analysis of the adoption of International Financial Reporting Standards in the U.S. This exploratory study investigates these concerns by examining the funding of the IASB with a focus on the characteristics of donors and their national and stakeholder interest group diversity.

Suggested Citation

  • Larson, Robert K. & Kenny, Sara York, 2011. "The financing of the IASB: An analysis of donor diversity," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 20(1), pages 1-19.
    • Handle: RePEc:eee:jiaata:v:20:y:2011:i:1:p:1-19
    DOI: 10.1016/j.intaccaudtax.2010.12.003
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    Cited by:

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    4. Palea, Vera & Scagnelli, Simone Domenico, 2014. "Do Earnings Reported under IFRS Improve the Prediction of Future Cash Flows? Evidence From European Banks," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201443, University of Turin.
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    6. Crawford, Louise, 2019. "Exploring the emancipatory dimensions of globalisation: The struggle over IFRS8 and country-by-country reporting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 63(C).
    7. Hughes, Susan B. & Larson, Robert K. & Sander, James F. & Xiques, Glenn, 2017. "Difficulties converging US GAAP and IFRS through joint projects: The case of business combinations," Advances in accounting, Elsevier, vol. 39(C), pages 1-20.
    8. Rey, Andrea & Maglio, Roberto & Rapone, Valerio, 2020. "Lobbying during IASB and FASB convergence due processes: Evidence from the IFRS 16 project on leases," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 41(C).
    9. Wafaa Salah, 2020. "The International Financial Reporting Standards and Firm Performance: A Systematic Review," Applied Finance and Accounting, Redfame publishing, vol. 6(2), pages 1-10, August.

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