The IASB at a Crossroads: The Future of International Financial Reporting Standards

Posted: 18 Feb 2012

See all articles by Karthik Ramanna

Karthik Ramanna

University of Oxford - Blavatnik School of Government

Karol Misztal

Harvard University - Business School (HBS)

Daniela Beyersdorfer

Harvard Business School, Europe Research Center

Date Written: March 27, 2011

Abstract

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.

Suggested Citation

Ramanna, Karthik and Misztal, Karol and Beyersdorfer, Daniela, The IASB at a Crossroads: The Future of International Financial Reporting Standards (March 27, 2011). Harvard Business School Accounting & Management Unit Case No. 111-084, Available at SSRN: https://ssrn.com/abstract=2007236

Karthik Ramanna (Contact Author)

University of Oxford - Blavatnik School of Government ( email )

Radcliffe Observatory Quarter
Oxford, Oxfordshire OX2 6GG
United Kingdom

Karol Misztal

Harvard University - Business School (HBS) ( email )

Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States

Daniela Beyersdorfer

Harvard Business School, Europe Research Center ( email )

Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States

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