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Standard-Setters' Responsiveness to Submissions on Exposure Drafts: Australian Evidence

Author

Listed:
  • Robert J. Coombes

    (Department of Financial and Quantitative Studies, Kuring-gai College of Advanced Education)

  • Donald J. Stokes

    (School of Accountancy, University of New South Wales)

Abstract

In this paper, we examine specific aspects of the responsiveness of the accounting profession in Australia to the written submissions of respondents to exposure drafts of accounting standards. Our findings suggest that the accounting profession has released standards which are consistent with the views of a majority of respondents to exposure drafts. Moreover, the content of the standards do not appear to be aligned with the stated preferences of any particular respondent group. Finally, there is a significant positive correlation between publication lags and the level of respondent dissonance on policies contained in official exposure drafts. This suggests that controversial aspects of exposure drafts may be reassessed by the standards-setter before authoritative statements of accounting standards are released.

Suggested Citation

  • Robert J. Coombes & Donald J. Stokes, 1985. "Standard-Setters' Responsiveness to Submissions on Exposure Drafts: Australian Evidence," Australian Journal of Management, Australian School of Business, vol. 10(2), pages 31-45, December.
    • Handle: RePEc:sae:ausman:v:10:y:1985:i:2:p:31-45
    DOI: 10.1177/031289628501000202
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    References listed on IDEAS

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    1. Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65(2), pages 135-135.
    2. Puro, M, 1984. "Audit Firm Lobbying Before The Financial Accounting Standards Board - An Empirical-Study," Journal of Accounting Research, Wiley Blackwell, vol. 22(2), pages 624-646.
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    Cited by:

    1. Garry Carnegie & Brian West, 1997. "Observing the PSASB: ED 50 and the Recognition of Infrastructure Assets," Australian Accounting Review, CPA Australia, vol. 7(14), pages 30-39, October.
    2. Renata Stenka & Peter Taylor, 2010. "Setting UK standards on the concept of control: An analysis of lobbying behaviour," Accounting and Business Research, Taylor & Francis Journals, vol. 40(2), pages 109-130.
    3. Giner Inchausti, Begoña, 2014. "Instituciones e intereses en conflicto ante la regulación contable internacional: el caso del sector financiero español," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 17(2), pages 143-152.
    4. Beaumont, Stacey & Clarkson, Peter & Tutticci, Irene, 2018. "Identifying lobbying strategies: An analysis of public responses to the Productivity Commission Inquiry into executive remuneration in Australia," Journal of Contemporary Accounting and Economics, Elsevier, vol. 14(3), pages 288-306.

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