The International Politics of IFRS Harmonization

Ramanna Karthik ()
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Ramanna Karthik: Harvard University, Cambridge, MA 02138, United States

Accounting, Economics, and Law: A Convivium, 2013, vol. 3, issue 2, 1-46

Abstract: Abstract: The globalization of accounting standards as seen through the proliferation of IFRS worldwide is one of the most important developments in corporate governance over the last decade. I offer an analysis of some international political dynamics of countries’ IFRS harmonization decisions. The analysis is based on field studies in three jurisdictions: Canada, China and India. Across these jurisdictions, I first describe unique elements of domestic political economies that are shaping IFRS policies. Then, I inductively isolate two principal dimensions that can be used to characterize the jurisdictions’ IFRS responses: proximity to existing political powers at the IASB; and own potential political power at the IASB. Based on how countries are classified along these dimensions, I offer predictions, ceteris paribus, on countries’ IFRS harmonization strategies. The analysis and framework in this paper can help broaden the understanding of accounting’s globalization.

Keywords: accounting standards; globalization; IASB; IFRS; politics (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1515/ael-2013-0004

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