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Powerful players : how constituents captured the setting of IFRS 6, a standard for the extractive industries

Cortese, Corinne, Irvine, Helen J., & Kaidonis, Mary (2009) Powerful players : how constituents captured the setting of IFRS 6, a standard for the extractive industries. Accounting Forum, 34(2), pp. 67-152.

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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.

Impact and interest:

9 citations in Scopus
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ID Code: 20470
Item Type: Journal Article
Additional URLs:
Keywords: international accounting standard setting, critical discourse analysis, extractive industries, regulatory capture, IFRS
DOI: 10.1016/j.accfor.2008.11.003
ISSN: 0155-9982
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Financial Accounting (150103)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Accounting Theory and Standards (150101)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Copyright Owner: Copyright 2009 Elsevier
Deposited On: 14 May 2009 13:57
Last Modified: 29 Feb 2012 23:54

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