Return to search

The legitimacy of International Financial Reporting Standards (IFRS) : an assessment of the due process of standard-setting

International Financial Reporting Standards (IFRS) are required or permitted for use in over 100 countries across the world. IFRS are developed by the International Accounting Standards Board (IASB). The IASB, with no formal or legal mandate, is performing a task normally reserved for national standard-setters. This study sought to establish the legitimacy of IFRS by assessing the due process of the IASB. The study established that countries have different motivations for choosing IFRS which raises legitimacy concerns. The global financial crisis compounded the legitimacy challenges of IFRS by exposing due process vulnerabilities. The study established that the IFRS governance structures are dominated by powerful stakeholders especially members of the G-20. Although the due process procedures provide opportunities for participation, actual participation is still dominated by constituents from Europe. Africa and South America still account for very low proportions of governance seats and participants in standard-setting projects. / Financial Accounting / M. Com. (Accounting)

Identiferoai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:unisa/oai:umkn-dsp01.int.unisa.ac.za:10500/11873
Date17 October 2013
CreatorsAmisi, Bright
ContributorsWingard, Christa, Bosman, Jan
Source SetsSouth African National ETD Portal
LanguageEnglish
Detected LanguageEnglish
TypeDissertation
Format1 online resource (xvi, 161 leaves : ill.)
RightsUniversity of South Africa

Page generated in 0.0023 seconds