International Accounting Standardisation: Politics Return? (II)

Author:Prof. Alain BURLAUD, Prof. Bernard COLASSE

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Keywords:IASB, IFRS, standardisation

Abstract:
The first part of this article was published in the issue No. 1/ 2010 of „Financial Audit” Journal. The authors underlined that, lacking political legitimacy, IASC has built its legitimacy based on independence, impartiality and competence.\r\nThe Authors conducted a critical review of the fundamentals of the legitimacy of the IASC, showing its weakness, both in terms of the due process used by the institution for the standardisation and in terms of content and conceptual framework it supports.\r\nIn part two of the paper, the authors demonstrate the imminent return of politics in international standardization activities.\r\n

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