The IASB at a Crossroads: The Future of International Financial Reporting Standards
Harvard University - Harvard Business School
Harvard Business School
Harvard Business School, Europe Research Center
March 27, 2011
Harvard Business School Accounting & Management Unit Case No. 111-084
What are the major challenges to the continued growth of IFRS worldwide? Should countries be encouraged to pursue "full adoption" of IFRS, or should each country determine its own IFRS "convergence" strategy? Given the limitations of governance and information-intermediation institutions worldwide, should IFRS limit the use of fair value accounting? How should the IASB respond to the growing power of emerging markets such as China in international standard setting? What lessons can be learned from the growth and development of IFRS for international harmonization of corporate governance standards more broadly? This case first describes the IASB's major accomplishments over the 2001-2010 period and then outlines the major challenges to the continued growth of IFRS as it enters its second decade.
Learning Objective: Capstone case for a course or module on International Accounting.
working papers series
Date posted: February 18, 2012
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