For many, the idea of 'accounting regulation' is a fairly boring, mundane topic. It is something...

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Accounting

For many, the idea of 'accounting regulation' is a fairlyboring, mundane topic. It is something that exists. We are aware ofaccounting standards, we need to follow them. In some senses, theidea of accounting regulation is effectively taken-for-granted.
There has, however, been a growing research focus on theInternational Accounting Standards Board (the IASB, how theyoperate, what they do and how they do it). I, for example, havepublished a couple of papers this year on activities of the IASB. Alot of this research has suggested that the IASB as a group oftechnocratic experts, have significant power and influence, butalso operate to function different types of politics.
1) What should the objective of accounting regulation be anddoes the current approach to regulation suffice (is itsufficient)?
If you could please include some external research that would begreat :)

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History of International Accounting Standards International Accounting Standards Committee IASC came into being on 29th June 1973 when 16 accounting bodies viz the Institute of Chartered Accountants from 9 nations ie USA Canada UK and Ireland Australia France Germany Japan Mexico and Netherlands signed the constitution for its formation Its headquarters is situated at London The objectives of the International Accounting Standards Committee are to develop accounting standards which are to be observed in the presentation of audited financial Statements and to promote their worldwide acceptance Objectives of International Accounting Regulation The objectives of IASC which are set out in its revised agreement and constitution are i To formulate and publish in the public interest accounting standards to be See Answer

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For many, the idea of 'accounting regulation' is a fairlyboring, mundane topic. It is something that exists. We are aware ofaccounting standards, we need to follow them. In some senses, theidea of accounting regulation is effectively taken-for-granted.There has, however, been a growing research focus on theInternational Accounting Standards Board (the IASB, how theyoperate, what they do and how they do it). I, for example, havepublished a couple of papers this year on activities of the IASB. Alot of this research has suggested that the IASB as a group oftechnocratic experts, have significant power and influence, butalso operate to function different types of politics.1) What should the objective of accounting regulation be anddoes the current approach to regulation suffice (is itsufficient)?If you could please include some external research that would begreat :)