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Due Process Failure in Sector-Neutral Accounting Standard-SettingRachel F. BaskervilleVictoria University of Wellington - School of Accounting and Commercial Law Sonja Pont NewbyInstitute of Chartered Accountants in Australia February 27, 2002 Financial Accountability & Management Vol. 18, No. 1, February 2002 Abstract: This study of due process in New Zealand draws upon information concerning events from 1993 to 1996 that resulted in the revision of a newly approved financial reporting standard and the withdrawal of requirements for the disclosure of director remuneration. Traditional consultation processes preceding approval of the standard failed to provide the FRSB with an adequate signal of the opposition to come, indicating a failure of due process. Analysis of this case study suggests adoption of a single and sector-neutral Board in New Zealand was undertaken with a poor appreciation of how to manage effective due process in a 'sector-neutral' world
Number of Pages in PDF File: 23 Keywords: accounting, standard-setting, sector neutral, due process, directors' remuneration, FRS-9 JEL Classification: M40 Accepted Paper SeriesDate posted: August 10, 2008Suggested CitationContact Information
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