TITLE

Powerful players: How constituents captured the setting of IFRS 6, an accounting standard for the extractive industries

AUTHOR(S)
Cortese, Corinne L.; Irvine, Helen J.; Kaidonis, Mary A.
PUB. DATE
June 2010
SOURCE
Accounting Forum;Jun2010, Vol. 34 Issue 2, p76
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Abstract: This paper illustrates the influence of powerful players in the setting of IFRS 6, a new International Financial Reporting Standard (IFRS) for the extractive industries. A critical investigative inquiry of the international accounting standard setting process, using Critical Discourse Analysis (CDA), reveals some of the key players, analyses the surrounding discourse and its implications, and assesses the outcomes. An analysis of small cross-section of comment letters submitted to the International Accounting Standards Committee (IASC) by one international accounting firm, one global mining corporation and one industry group reveal the hidden coalitions between powerful players. These coalitions indicate that the regulatory process of setting IFRS 6 has been captured by powerful extractive industries constituents so that it merely codifies existing industry practice.
ACCESSION #
86453622

 

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