Journal article

The Setting Of Accounting Standards in Australia: An Evolving Structure

WJ McGregor

Australian Accounting Review | Wiley | Published : 1995

Abstract

The evolution of the accounting standard‐setting process in Australia will bring further significant changes as we move to introduce major features of the structures existing in the United States and the United Kingdom. Those features include an independent standard‐setting body, full‐time board members and broad‐based funding of the process. Similar structural changes can be expected in other countries which have well developed standard‐setting activities, and ultimately at the level of the International Accounting Standards Committee. These changes will result from the increasing demands on the standard‐setting process and the increasing accountability required by those affected by the out..

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