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)
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:unisa/oai:uir.unisa.ac.za:10500/11873 |
| Date | 18 February 2013 |
| Creators | Amisi, Bright |
| Contributors | Wingard, Christa, Bosman, Jan |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Dissertation |
| Format | 1 online resource (xvi, 161 leaves) : illustrations (some color), color graphs, application/pdf |
| Rights | University of South Africa |
Page generated in 0.0023 seconds