Portal de Periódicos da CAPES

The International Accounting Standards Board

2007; Taylor & Francis; Volume: 12; Issue: 1 Linguagem: Inglês

10.1080/13563460601068875

1469-9923

Shawn Donnelly,

Accounting and Organizational Management

Click to increase image sizeClick to decrease image size Notes 1. The following details are based on the new IASC Foundation Constitution of 21 July 2005, which revises the first constitution of 2000. 2. Conseil National de Comptabilité, ‘Missions du Conseil national de la comptabilité’, http://www.minefi.gouv.fr/minefi/entreprise/comptabilite/index.htm, 2005. 3. Andrew Sheng (Chairman of the IOSCO Technical Committee), Letter to Paul Volcker, Chairman of the IASB, 9 February 2004. 4. http://www.iasb.org/about/ifricmembers.asp. 5. Andreas Noelke, ‘Introduction to the Special Issue: The Globalization of Accounting Standards’, Business and Politics, Vol. 7, No. 3 (2005), pp. 1–7. 6. Peter Jeffrey, ‘International Harmonization of Accounting Standards and the Treatment of Off-Balance Sheet Treatment’, Duke Journal of Comparative and International Law, Vol. 12, No. 2 (2002), p. 351. 7. International Accounting Standards (IAS) Regulation (1606/2002, amended 2238/2004), Deutscher Bundestag, Drucksachen 14/23767 (2002). 8. This means that the standards would not apply to subsidiary companies. This would affect the largest companies in the European market and reduce the adjustment pressure on smaller, more national firms. 9. Craig James, ‘International Accounting Standards: Are They Coming to America? (Interview with International Accounting Standards Committee Chairman Arthur R. Wyatt)’, CPA Journal Online, October 1992. 10. See IOSCO Technical Committee, Statement on the Development and Use of International Financial Reporting Standards in 2005 (February 2005). 11. Foreign companies may issue reconciliation statements that explain the differences to US standards. 12. This project is led by the Canadian Accounting Standards Board. See IASB, Short-Term Convergence Project Report Summary (March 2004). 13. For a full discussion of differences between FAS and IAS, see Halsey Bullen & Kimberley Crook, Revisiting the Concepts: A New Conceptual Framework Project (FASB and IASB, 2005). 14. Ibid., p. 8. 15. The positions of the actors are documented in comment letters on the constitutional review found at http://www.iasb.org/current/constitution_docs.asp. 16. All comment letters are available at http://www.iasb.org/current/comment_letters.asp?showPageContent = no&xml = 16_146_79_10082005.htm. 17. See, for example, Antoine Bracchi (French Conseil National de Compabilité), Letter to IASB (Warren McGregor), 29 July 2005. 18. See Ernst & Young, Letter to IASCF (Tom Seidenstein), 11 February 2004, p. 8. 19. IASB Discussion Paper: Management Commentary (October 2005). 20. Sheng, Letter to Paul Volcker. 21. Jeffrey, ‘International Harmonization of Accounting Standards’, p. 350. 22. See IASB Discussion Paper, ‘Management Commentary’, October 2005. The IASB's project has been led by the New Zealand standard setter in cooperation with its British, Canadian and German counterparts since 2002. 23. OECD, OECD Principles of Corporate Governance (OECD, 2004). 24. Sheng, Letter to Paul Volcker, Chairman of the IASB. 25. See, for example, Institute of Chartered Accountants of India, ‘Comments on Draft Memorandum of Understanding on the role of accounting standard-setters and their relation with the IASB’, undated, and Bracchi, Letter to IASB. 26. Deloitte Touche Tohmatsu, Letter to Tom Seidenstein (IASB), 22 February 2004; Ernst & Young, Letter to Tom Seidenstein, 11 February 2004; PricewaterhouseCoopers, Letter to Tom Seidenstein, 10 February 2004; KPMG, Letter to Tom Seidenstein, 9 February 2004. 27. IASC Foundation, Draft Due Process Handbook for the IFRIC (May 2006). 28. See comment letters from India and Indonesia. 29. A notable exception was the Italian standard setter, the Organismo Italiano di Contabilità. See letter to the IASB on the draft memorandum, 28 July 2005. 30. IASB, Statement of Best Practice: working relationships between the IASB and other accounting standard- setters (February 2006). 31. I am grateful to Shyam Sunder for this observation. 32. World Bank, Reports on Observance of Standards and Codes: Overview of the ROSC Accounting and Auditing Program, Washington, January 2004. See also Barry Eichengreen, Financial Crises and What to Do About Them (Oxford University Press, 2002), p. 19. 33. Wolfgang Streeck, ‘Introduction: Exploration into the Origins of Nonliberal Capitalism in Germany and Japan’, in Wolfgang Streeck & Kozo Yamamuro (eds), The Origins of Nonliberal Capitalism (Cornell University Press, 2005), pp. 1–38.