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The Setting Of Accounting Standards in Australia: An Evolving Structure
Author(s) -
McGregor W.J.
Publication year - 1995
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.1995.tb00376.x
Subject(s) - accounting , process (computing) , accountability , business , international standard , political science , computer science , law , telecommunications , operating system
The evolution of the accounting standard‐setting process in Australia will bring further significant changes as we move to introduce major features of the structures existing in the United States and the United Kingdom. Those features include an independent standard‐setting body, full‐time board members and broad‐based funding of the process. Similar structural changes can be expected in other countries which have well developed standard‐setting activities, and ultimately at the level of the International Accounting Standards Committee. These changes will result from the increasing demands on the standard‐setting process and the increasing accountability required by those affected by the output of the process.