The Theries We Use To Help Us Understand Standard Setting In National Arenas Don't Work So Well At The International Level Where The International Accounting Starndards Board Is Taking A Lead Role. We Will Have To Modify Them Or Expand Our Theoretical Repertoire. Discuss The Above Statement, Clearly Indcating Your Agreement Or Otherwise And The Basis For Your Views.
Abstract
This paper is devoted to investigate the recent development of Australian accounting standards-setting in the light of theories of economics and sociology particularly in respect of the events and controversies around convergence of international accounting standards. The purpose of this paper is to examine the strength and weakness of different theories in the analysis of standard-setting process and more importantly, seek to compare standard setting process and major players involved in national and international arenas. Accordingly through critical use of different theories, this essay suggests that although certain propositions or assumptions of different theories may remain applicable under different scenarios, however with regard to the theory as a whole, it may be argued that each individual theory examined in this essay are not sufficiently sophisticated or suitable in analysis of Australian accounting standard-setting in national and international arenas......
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Approximate Word Count: 3090
Approximate Pages: 13 (250 words per double-spaced page)
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