IDEAS home Printed from https://ideas.repec.org/a/taf/acceur/v10y2013i1p99-151.html
   My bibliography  Save this article

A Multi-Issue/Multi-Period Analysis of the Geographic Diversity of IASB Comment Letter Participation

Author

Listed:
  • Robert K. Larson
  • Paul J. Herz

Abstract

The International Accounting Standards Board (IASB) establishes accounting standards now used in some form in over 100 countries. Diverse geographical participation in International Financial Reporting Standards (IFRS) standard-setting is seen as desirable as it may improve the consistency of IFRS applications, reduce criticism of regional over-influence, and promote the legitimacy of the IASB. This study investigates country participation and the regional and institutional factors that influence the geographic diversity of comment letters (CLs) in the IASB's standard-setting process. Using CLs regarding 57 IASB issues from 2001 through 2008, we find that countries with EU membership, G4+1 membership, donations to the IASB, and larger equity market development are associated with larger numbers of CLs and CL writers. Analysis of a subsample of more developed countries finds some evidence that countries with more historic divergence in accounting standards from IFRS also have more CL writers. In most countries, one of several major stakeholder interest groups, such as professional accountancy bodies, accounting standard-setters, and public accounting firms, send at least half of the CLs. While response levels for most countries vary greatly depending upon the nature or topic of an IASB issue, overall response levels remain low at just over 100 responses per issue and did not increase over time. While geographic diversity and response rates are greater than its predecessor the International Accounting Standards Committee, they are lower than those of many national standard-setters, possibly raising due process and legitimacy issues for the IASB.

Suggested Citation

  • Robert K. Larson & Paul J. Herz, 2013. "A Multi-Issue/Multi-Period Analysis of the Geographic Diversity of IASB Comment Letter Participation," Accounting in Europe, Taylor & Francis Journals, vol. 10(1), pages 99-151, June.
    • Handle: RePEc:taf:acceur:v:10:y:2013:i:1:p:99-151
    DOI: 10.1080/17449480.2013.772716
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/17449480.2013.772716
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/17449480.2013.772716?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Benston, George J. & Bromwich, Michael & Litan, Robert E. & Wagenhofer, Alfred, 2006. "Worldwide Financial Reporting: The Development and Future of Accounting Standards," OUP Catalogue, Oxford University Press, number 9780195305838.
    2. Camfferman, Kees & Zeff, Stephen A., 2007. "Financial Reporting and Global Capital Markets: A History of the International Accounting Standards Committee, 1973-2000," OUP Catalogue, Oxford University Press, number 9780199296293.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shan, Yuan George, 2019. "Do corporate governance and disclosure tone drive voluntary disclosure of related-party transactions in China?," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 34(C), pages 30-48.
    2. Durocher, Sylvain & Picard, Claire-France & Dugal, Léa, 2024. "Giving sense to and making sense of OCI: When each component makes sense, but the whole does not," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 99(C).
    3. Bamber, Matthew & McMeeking, Kevin, 2016. "An examination of international accounting standard-setting due process and the implications for legitimacy," The British Accounting Review, Elsevier, vol. 48(1), pages 59-73.
    4. Mintchik, Natalia & Moehrle, Stephen & Reynolds-Moehrle, Jennifer, 2024. "Evolution, trends, and recent developments in international accounting studies: A synthesis of evidence published in “Research in Accounting Regulation”," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 57(C).
    5. 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).
    6. 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.
    7. 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).
    8. Marius Gros & Daniel Worret, 2016. "Lobbying and Audit Regulation in the EU," Accounting in Europe, Taylor & Francis Journals, vol. 13(3), pages 381-403, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Francesco De Luca & Jenice Prather-Kinsey, 2018. "Legitimacy theory may explain the failure of global adoption of IFRS: the case of Europe and the U.S," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 22(3), pages 501-534, September.
    2. Ramanna Karthik, 2013. "The International Politics of IFRS Harmonization," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 3(2), pages 1-46, January.
    3. 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.
    4. Chikako Ozu & Miho Nakamura & Kyoko Nagata & Sidney J. Gray, 2018. "Transitioning to IFRS in Japan: Corporate Perceptions of Costs and Benefits," Australian Accounting Review, CPA Australia, vol. 28(1), pages 4-13, March.
    5. Muzanenhamo, Penelope & Power, Sean Bradley, 2024. "ChatGPT and accounting in African contexts: Amplifying epistemic injustice," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 99(C).
    6. Philip Brown & Ann Tarca, 2007. "Achieving High Quality, Comparable Financial Reporting: A Review of Independent Enforcement Bodies in Australia and the United Kingdom," Abacus, Accounting Foundation, University of Sydney, vol. 43(4), pages 438-473, December.
    7. Molina Sánchez, Horacio & Bautista Mesa, Rafael, 2018. "La participación en el /Participation in the IASB Due Process," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 36, pages 429-458, Mayo.
    8. George J. Benston & Michael Bromwich & Alfred Wagenhofer, 2006. "Principles‐ versus rules‐based accounting standards: the FASB's standard setting strategy," Abacus, Accounting Foundation, University of Sydney, vol. 42(2), pages 165-188, June.
    9. S. Susela Devi & R. Helen Samujh, 2015. "The Political Economy of Convergence: The Case of IFRS for SMEs," Australian Accounting Review, CPA Australia, vol. 25(2), pages 124-138, June.
    10. David Alexander & Anne Le Manh-Béna & Olivier J. Ramond, 2013. "Can the conceptual framework be all things to all (wo)men?," Post-Print hal-00991959, HAL.
    11. Stephen A. Zeff & Christopher W. Nobes, 2010. "Commentary: Has Australia (or Any Other Jurisdiction) ‘Adopted’ IFRS?," Australian Accounting Review, CPA Australia, vol. 20(2), pages 178-184, June.
    12. Olivier E. Malay, 2021. "How to Articulate Beyond GDP and Businesses’ Social and Environmental Indicators?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 155(1), pages 1-25, May.
    13. Abdulrahman Alomair & Alan Farley & Helen Hong Yang, 2022. "The impact of IFRS adoption on the value relevance of accounting information in Saudi Arabia," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(2), pages 2839-2878, June.
    14. Sikka, Prem, 2011. "Accounting for human rights: The challenge of globalization and foreign investment agreements," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 22(8), pages 811-827.
    15. Gallhofer, Sonja & Haslam, Jim & Kamla, Rania, 2011. "The accountancy profession and the ambiguities of globalisation in a post-colonial, Middle Eastern and Islamic context: Perceptions of accountants in Syria," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 22(4), pages 376-395.
    16. Daniel Mügge & Bart Stellinga, 2015. "The unstable core of global finance: Contingent valuation and governance of international accounting standards," Regulation & Governance, John Wiley & Sons, vol. 9(1), pages 47-62, March.
    17. Büthe Tim, 2010. "Private Regulation in the Global Economy: A (P)Review," Business and Politics, De Gruyter, vol. 12(3), pages 1-40, October.
    18. Stephen A. Zeff, 2013. "The objectives of financial reporting: a historical survey and analysis," Accounting and Business Research, Taylor & Francis Journals, vol. 43(4), pages 262-327, August.
    19. Alain Burlaud & Bernard Colasse, 2011. "International Accounting Standardisation: Is Politics Back?," Accounting in Europe, Taylor & Francis Journals, vol. 8(1), pages 23-47, June.
    20. Aburous, Dina, 2019. "IFRS and institutional work in the accounting domain," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 62(C), pages 1-15.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:acceur:v:10:y:2013:i:1:p:99-151. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAIE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.