(英文)會計外文翻譯--對國際會計準則委員會的游說受訪者對公允價值選擇權(quán)修正案的影響_第1頁
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1、370 L LO OB BB BY YI IN NG G T TO OW WA AR RD DS S I IA AS SB B: : R RE ES SP PO ON ND DE EN NT TS S’ ’ I IN NF FL LU UE EN NC CE E O ON N T TH HE E F FA AI IR R V VA AL LU UE E O OP PT TI IO ON N A AM ME EN ND DM ME EN

2、NT T Gîrbin? Maria M?d?lina ASE Bucure?ti, Str. Bozieni nr. 8, bloc 831, et.9, ap.904, girbinam@yahoo.com The focus of our research is to analyze the environment in which IASB acts and to investigate its influence o

3、n the standard setting process using the theoretical framework of the institutional theory. We perform a case- study illustrating the standard setting process for the amendments to IAS 39 after 2002 concentrating on the

4、 “Fair Value Option- amendment”. The examination is based on comments letters submitted, final standards and their basis for conclusion and pursues the identification of the main parties involved, their opinions, incen

5、tives, interests and the arguments they use to support their position, the sources of controversies and also the reaction of the IASB to opposing arguments and the justification of its choices. Keywords: accounting st

6、andard setting, IASB, lobbying, fair value option Introduction There is a general presumption that accounting standards are intended to enhance the quality of accounting information and to reduce the asymmetry among m

7、arket participants. Because the standards determine the information disclosed by companies and play an important role in the wealth distribution process, an accounting standard acceptable to all rarely exists. The affe

8、cted parties will try to convince the standard setter to write rules to their advantage and the later will have to solve the inherent conflicts. In other words, accounting standard- setting is not just about finding the

9、 “right solution” but is also about making choices among the views of different individuals and groups having conflicting interests. Private regulators develop their standards according to a due process which incorpora

10、tes a formal public consultation by providing interested parties opportunities to express their views on debated issues before the adoption of the final standards. The standard setting is considered a political activit

11、y in which interested parties will seek to lobby the rule-making body. The study of the lobbying process is necessary because it gives insights into understanding the institutional features of standard setting. If prio

12、r research concentrated mainly on the work of standards setters from different countries, we considered that institutional particularities of IASB don’t justify the generalization of results. Literature Review An import

13、ant part of the literature on politics in standard setting identified interested parties their incentives and victories. Some research appealed economic models, the individual interest and the rationality of the actors

14、 to explain the standard setting process and the behavior of the actors. Other research studies classified participants and correlated their positions to accounting standard outcomes. In spite of the extensive litera

15、ture on accounting standard-setting, few studies focused on the work of the IASB and its forerunner, IASC. A part of them analyzed the comment letters without focusing on characteristics of lobbyers. Kenny and Larson (

16、1993) examined the comment letters on the Exposure Draft Financial Reporting of Interests in Joint Ventures and concluded that few individual firms lobby the IASC and that professional and trade organizations lobby on

17、behalf of their constituents. Kenny and Larson (1995) analyzed also the comment letters on IASC proposals published between 1989 and 1992 and found that 40 organizations contributed about 60 % of all submitted response

18、s. Larson (1997) tested empirically the applicability of ideas originating in the U.S.-based lobbying literature in an international context. Mac Arthur (1996) analyzed the content of the comment letters sent by compan

19、ies to the IASC on ED 32 (comparability of financial statements) to test Gray's hypothesized linkages between accounting values and the cultural values identified by Hofstede. Later, MacArthur (1999) focused on the

20、 impact of cultural factors on the lobbying behavior of accounting bodies’ members on the IASC’s ED 32. The combined results suggested that cultural, accounting sub cultural and economic factors influence the preferenc

21、es of accounting bodies’ members and corporate management. By exploring the effect of national characteristics on lobbying, Jorissen et al (2006) demonstrated that in countries with high levels of enforcement, with hi

22、gh judicial efficiency, and with a positive attitude towards tax compliance, companies engage more often in lobbying and that variables relating to domestic earnings management practices and the domestic information en

23、vironment of the firm have no significant influence. 372 In order to observe if external actors influenced IASB via their comment letters we identified the main issues raised by constituents in their letters and verifie

24、d if they were integrated in the final standard (the methodology was proposed by Weetman, 2001) and we analyzed situations for which IASB changed in the final standard its position expressed in the ED. Most comments re

25、ceived an answer in the final standard. The justification of standard setter in the basis for conclusion is more detailed if the final standard reflects a different view from the view of constituents. In order to asses

26、s the respondents’ influence each comment letter was coded based on its concordance with the outcome in the final standard. Specifically if the comment letter favored the outcome in the standard it was coded +1 for tha

27、t issue; if the comment letter opposed the outcome it was coded -1 for the issue. Then we realized a binomial test of the preference with the IASB’s position. The verifiability issue Not mentioned (IASB final solution)

28、 Agree with the ED Total Total 65 5 70 Expected proportion 0.5 Proportion 0.929 95% CI 0.841 to 0.976 (exact) 2-tailed p <0.0001 (exact) This analysis tentatively indicated that the IASB is influenced

29、by respondents’ preferences as expressed in their letters. To statistically test for the association between the predictor variable, constituents groups and the influence on accounting issues, a chi-square test was use

30、d. It revealed that banks influenced the elimination of the verifiability test from the final standard. Also, most banks agreed with fair valuing debts without separating the effect of own creditworthiness. With the pu

31、rpose of examination of the positions taken in relation to the specific issues related to the use of fair value option we realized a content analysis of comment letters. The number of arguments and supporting arguments

32、presented on an issue was considered as an indication of strength, the idea being that the more arguments and supporting arguments provided in a submission the stronger the position of the submission. Companies may als

33、o use different types of arguments and supporting arguments, such as economic consequences or conceptually based arguments, in an attempt to convince standard setters of their view (Tutticci et al., 1992). We also inte

34、rpreted as a strength indicator the number of phrases considering that measures based on word counts and pages are problematic because of different writing styles and different page set-ups, graphics and font size. We

35、determined that the longest justifications were received from preparers and the accounting profession and most constituents used conceptual based arguments. Conclusions, limitations and suggestions for future research U

36、sing insights from institutional theory the research illustrated IASB’s actions striving for legitimacy in the face of normative pressures exerted by the EU. The research offers an institutional theory explanation for t

37、he IASB’s actions to find a solution for this short circuit in standard setting. It underlies the necessity of deploying strategies to maintain the standard setter legitimacy under circumstances of large institutional

38、distance between pressure forces. Our conclusions are supported also by the latest actions of IASB to review its Constitution, due process and to enhance transparency, which we interpret as attempts to gain more legiti

39、macy.The empirical part of the research demonstrated that the external actors influenced IASB’s decisions via their comment letters. The content analysis illustrated that most constituents used conceptually based argum

40、ents to strengthen their position when they disagreed with the opinion of the standard setter. This demonstrates also that constituents prefer to use socially accepted arguments and to and hide their real reasons for l

41、obbying accentuating standard setter myths. This case-study illustrates how IASB exploits its due process ceremony to impose its values through manipulation of cognitive legitimacy. The most important limitation of the

42、 research is related to the fact that is based on comment letters and other publicly available material. Also, the content analysis conclusions might be affected by the subjectivity of the researcher in classifying arg

43、uments and choosing indicators of lobbying position. Bibliography 1. Fogarty, Timothy J. (1992) ”Financial Accounting Standard Setting as an Institutionalized Action Field: Constraints, Opportunities and Dilemmas”, Jou

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