The Transnationalization of Financial Reporting Standards

Posted: 1 Jul 2010

See all articles by Brendan McSweeney

Brendan McSweeney

University of London, Royal Holloway - School of Management

Multiple version iconThere are 2 versions of this paper

Date Written: June 29, 2010

Abstract

This paper seeks to explain the transnationalization of financial reporting by corporations. Specifically it considers how the status of International Financial Reporting Standards - constructed and issued by a private organization: the International Accounting Standards Board (IASB) – changed from being highly marginal to almost global adoption. A range of explanations (rather than just one) for the transformation are examined and contrary (or rather disruptive) evidence, not just supportive, is considered. Having examined a variety of explanations, the paper then considers whether or not the now extensive transnationalisation of financial reporting can be regarded as evidence that the period of national or regional varieties of capitalism (or business systems) is ending.

Keywords: accounting, convergence, financial reporting standards, globalisation, International Accounting Standards Board, standardization

JEL Classification: G15, M41, N20, P51

Suggested Citation

McSweeney, Brendan, The Transnationalization of Financial Reporting Standards (June 29, 2010). Available at SSRN: https://ssrn.com/abstract=1632334 or http://dx.doi.org/10.2139/ssrn.1632334

Brendan McSweeney (Contact Author)

University of London, Royal Holloway - School of Management ( email )

Egham
Surrey, Egham TW20 8DG
United Kingdom

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