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

Journal Article


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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.

UOW Authors


  •   Cortese, Corinne
  •   Irvine, Helen J. (external author)
  •   Kaidonis, Mary A. (external author)

Publication Date


  • 2010

Citation


  • Cortese, C. L., Irvine, H. J. & Kaidonis, M. A. (2010). Powerful players: how constituents captured the setting of IFRS 6, an accounting standard for the extractive industries. Accounting Forum, 34 (2), 76-88.

Scopus Eid


  • 2-s2.0-77955575822

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1542&context=commpapers

Ro Metadata Url


  • http://ro.uow.edu.au/commpapers/504

Number Of Pages


  • 12

Start Page


  • 76

End Page


  • 88

Volume


  • 34

Issue


  • 2

Place Of Publication


  • http://www.elsevier.com/wps/find/journaldescription.cws_home/703483/description#description

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.

UOW Authors


  •   Cortese, Corinne
  •   Irvine, Helen J. (external author)
  •   Kaidonis, Mary A. (external author)

Publication Date


  • 2010

Citation


  • Cortese, C. L., Irvine, H. J. & Kaidonis, M. A. (2010). Powerful players: how constituents captured the setting of IFRS 6, an accounting standard for the extractive industries. Accounting Forum, 34 (2), 76-88.

Scopus Eid


  • 2-s2.0-77955575822

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1542&context=commpapers

Ro Metadata Url


  • http://ro.uow.edu.au/commpapers/504

Number Of Pages


  • 12

Start Page


  • 76

End Page


  • 88

Volume


  • 34

Issue


  • 2

Place Of Publication


  • http://www.elsevier.com/wps/find/journaldescription.cws_home/703483/description#description