A Global Accounting Standard: The Holy Grail?

Paul Saw
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Paul Saw: Ashcroft International Business School, Anglia Ruskin University

Chapter Chapter 12 in Theory and Practice of Corporate Social Responsibility, 2011, pp 193-207 from Springer

Abstract: Abstract The move to a global standard through the International Financial Reporting Standards is the single most important initiative in the financial reporting world as its impact stretches far beyond accounting to affect many key decisions people make. Trillions of dollars have been invested in companies globally and stakeholders are demanding greater transparency in stewardship accounting: the call for clear and concise guidance towards responsible accounting has never been louder. This chapter begins by looking at what international accounting standards are and how they come about through the work of the International Accounting Standards Board and its predecessor the International Accounting Standards Committee. Various leading writers in the field have highlighted similar reasons for and against the globalisation of accounting standards but the decision on which option to take was not an easy one since in some cases it was often difficult to quantify and measure the relevant variables. The chapter ends with some emerging issues of concern which if the IASB were to choose to ignore; it would have chosen to do so at its own peril.

Keywords: Corporate Social Responsibility; Accounting Standard; International Financial Reporting Standard; Audit Firm; Global Standard (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-16461-3_12

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DOI: 10.1007/978-3-642-16461-3_12

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