Regulatory competition in accounting. A history of the Accounting Standards Authority of Canada

Alan Richardson

Accounting, Business and Financial History, 2011, vol. 21, issue 1, pages 95-114

Abstract: This article examines a unique period (1981-1998) in Canadian accounting standard-setting history when, nominally, two competing standard-setting bodies existed: the Canadian Institute of Chartered Accountants and the nascent Accounting Standards Authority of Canada. Sunder (2002a, 2002b) advocates competing accounting standard-setting regimes within a single jurisdiction to allow firms to voluntarily select standards that reflect their business model and provide the lowest cost-of-capital. This situation, however, is rare and has not been examined empirically. The existence of competing standards assumes the existence of competing standard-setters, but the entry of a new standard-setter into the domain of an existing standard-setter faces numerous obstacles. The analysis of this case suggests some factors missing from Sunder's model.

Keywords: regulatory competition; Accounting Standards Authority of Canada; embeddedness of standard-setting (search for similar items in EconPapers)
Date: 2011
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