Title
Formal participation in the IASB's due process of standard setting : a multi-issue/multi-period analysisFormal participation in the IASB's due process of standard setting : a multi-issue/multi-period analysis
Author
Faculty/Department
Faculty of Applied Economics
Research group
Accountancy and Finance
Publication type
article
Publication
Subject
Economics
Source (journal)
European accounting review
Volume/pages
21(2012):4, p. 693-729
ISSN
0963-8180
ISI
000310591200002
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
This paper sets out to enquire about the nature of constituents participation in the IASBs due process in terms of representation (constituents diversity and characteristics) and drivers to participate. We choose to adopt a multi-issue/multi-period approach to investigate constituents formal participation. An analysis of comment letters sent directly to the IASB over the period 20022006, reveals that preparers sent most letters followed by the accounting profession and standard setters. With regard to timing, we find that preparers concentrate their participation efforts at a later stage in the process compared to the other constituents, who react earlier. Formal indirect participation in the IASBs due process by submitting comment letters to EFRAG is infrequently used by European constituents. In those cases where constituents exert influence to both IASB and EFRAG, they often use exactly the same comment letter. Concentrating on the drivers to participate, the data reveal that preparers, accountants and standard setters react significantly more when proposals have a major impact on the accounting numbers of a company. Users, stock exchanges and their supervisory authorities write significantly more comment letters when disclosure issues are at stake. Finally, participating preparers in the IASBs due process are larger and more profitable than non-participating preparers.
E-info
https://repository.uantwerpen.be/docman/iruaauth/b15222/8c8eda4443a.pdf
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