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Agenda Entrance Complexity in International Accounting Standard Setting: The Case of IFRS for SMEs
Author(s) -
Ram Ronita,
Newberry Susan
Publication year - 2017
Publication title -
abacus
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.632
H-Index - 45
eISSN - 1467-6281
pISSN - 0001-3072
DOI - 10.1111/abac.12122
Subject(s) - accounting , jurisdiction , realisation , business , international financial reporting standards , accounting standard , opposition (politics) , financial accounting , financial statement , accounting information system , political science , law , physics , quantum mechanics , politics , audit
Features of rational decision making (such as agenda entrance criteria and statement of jurisdiction) barely conceal the complexity of international accounting standard setting. In 2003, when the International Financial Reporting Standard for Small and Medium‐sized Entities (IFRS for SMEs) project achieved agenda entrance, the International Accounting Standards Board's (IASB) jurisdiction was to develop, ‘a single set of … accounting standards … to help participants in the world's capital markets’. Drawing on interviewees' recollections and other material, this study of how the project achieved agenda entrance finds within‐IASB opposition to the project, arguing it was outside the IASB's jurisdiction that dissolved with the realisation that the IASB's jurisdiction would be changed to encompass the project.