Posted: September 9th, 2015

Theories of regulation

Find the comment letters received on a current exposure draft or proposal for a new accounting standard. (These can be found on the websites of most standard setting organizations such as IASB, AASB or FASB. Hint: These websites can be quite difficult to navigate, so as a first step try to type “IASB comment letters” in to Google or other search engine of your choice).

Read a sample of the comments from a rage of respondents and select five respondents, for example from professional accounting bodies, industry, companies or corporate bodies. Include copies of the comment letters you wish to discuss and complete the following task.
a) Describe on your own words the issue that the exposure draft/proposal and comments letters dealt with.
b) Is there agreement among the various groups? Describe the issues where there is agreement/ disagreement and provide examples.
c) In your opinion, which of the three theories of regulation (Public interest theory, Economic interest group theory [Private interest] and Capture theory) explain the comment letters? Justify your answer.

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