What Is the Way Forward for IASBâ€™s Research Programme under the Evidence-Supported Approach? Some Analyses and Comments Based on the 2015 Agenda Consultation
Stephani Mason and
Accounting in Europe, 2016, vol. 13, issue 2, 269-283
The purpose of this paper is twofold: (1) the paper reviews the International Accounting Standards Board (IASB's) evidence-supported approach to standard setting, in particular the very broad definition of evidence that does not distinguish between scientific evidence used for developing the normative foundation (the standards) and observations in practice. Based on comparisons with medicine and auditing, we argue that there are good reasons for the IASB to separate scientific evidence from other sources of information. As producers of scientific evidence, the academic community must consider whether better alignment between publishing incentives and standard setting can be achieved. (2) Examining the 2015 Agenda Consultation, the â€˜top-fiveâ€™ research projects were identified: â€˜Disclosure Initiative â€“ Principles of Disclosureâ€™, â€˜Primary Financial Statementsâ€™, â€˜Financial Instruments with Characteristics of Equityâ€™, â€˜Business Combinations under Common Controlâ€™, and â€˜Goodwill and Impairmentâ€™. In order to further support evidence-informed standard setting, we provide research-based comments on these projects (based on the European Accounting Association's Agenda Consultation comment letter).
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Persistent link: https://EconPapers.repec.org/RePEc:taf:acceur:v:13:y:2016:i:2:p:269-283
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