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Standard‐setting in Australia: Implications of Recent Radical Reform Proposals
Author(s) -
COLLETT PETER,
GODFREY JAYNE,
HRASKY SUE
Publication year - 1998
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.1835-2561.1998.tb00084.x
Subject(s) - luck , accounting , government (linguistics) , economics , plank , process (computing) , political science , public economics , business , philosophy , linguistics , materials science , theology , computer science , composite material , operating system
We examine the implications of the Howard government's Corporate Law Economic Reform Program as they relate to accounting standard‐setting in Australia. A luck of systematic and compelling evidence for wholesale changes to the existing standard‐setting process is identified, as is a fundamental shift in the rationale for standard‐setting which underlies the proposed changes. We disagree with the main plank of the proposals, that is, that international accounting standards should be adopted in Australia.