N° 100 - june 2010

THE INTERNATIONAL STANDARDIZATION OF ACCOUNTING: THE RESISTIBLE RISE OF THE IASC/IASB

By Bernard COLASSE,
CREFIGE, University of Paris-Dauphine

Article translated from French by Noal Mellott (CNRS, Paris, France)
Article published in French in Gérer et Comprendre [March 2004] http://www.annales.org/

The International Accounting Standards Board and International Association for Statistical Computing produce information for investors. These private international organizations draw a legitimacy for setting bookkeeping standards from the English-speaking world but have no power to actually enforce the standards they approve. They have to constantly prove their legitimacy and seek support from more powerful organizations, such as the International Institute for Facilitation and Consensus (IFAC), the International Organization of Securities Commissions (IOSCO) or the European Union, itself divided between a shareholder model (in English-speaking lands) and a partnership model (on the European mainland). The recent rejection of standards 32 and 39 suggests that supporters of the continental model are opposing specifications based on the Anglo-Saxon model.

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