Articles

Stakeholder and jurisdictional influence over IFRS 10's development

Published in: South African Journal of Accounting Research
Volume 38 , issue 1 , 2024 , pages: 27–49

DOI: 10.1080/10291954.2023.2246293

Author(s): Monica Teixeira De Freitas School of Accountancy, South Africa , Wayne van Zijl School of Accountancy, South Africa , Asheer Jaywant Ram School of Accountancy, South Africa , Warren Maroun School of Accountancy, South Africa

Keywords: IASB , IFRS 10 , Legitimacy , Standard-setting , Content analysis , Due process

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Abstract

The International Financial Reporting Standards are voluntarily adopted by 167 countries, including countries in Africa, Australasia, Europe and South America. To maintain its legitimacy, the International Accounting Standards Board (IASB) must not be viewed as being unduly influenced by one group or jurisdiction. If the IASB’s procedural legitimacy is compromised, it threatens their cognitive legitimacy and the global adoption of IFRS.

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