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Article
Powerful players: How constituents captured the setting of IFRS 6, an accounting standard for the extractive industries
Faculty of Commerce - Papers (Archive)
  • C. L. Cortese, University of Wollongong
  • H. J. Irvine, University of Wollongong
  • M. Kaidonis, University of Wollongong
RIS ID
25142
Publication Date
1-1-2009
Publication Details

Cortese, C.L., Irvine, H.J. & Kaidonis, M.A. (2010). Powerful players: how constituents captured the setting of IFRS 6, an accounting standard for the extractive industries. Accounting Forum, 34 (2), 76-88.

Abstract
This paper illustrates the influence of powerful players in the setting of IFRS 6, a new International Financial Reporting Standard (IFRS) for the extractive industries. A critical investigative inquiry of the international accounting standard setting process, using Critical Discourse Analysis (CDA), reveals some of the key players, analyses the surrounding discourse and its implications, and assesses the outcomes. An analysis of small cross-section of comment letters submitted to the International Accounting Standards Committee (IASC) by one international accounting firm, one global mining corporation and one industry group reveal the hidden coalitions between powerful players. These coalitions indicate that the regulatory process of setting IFRS 6 has been captured by powerful extractive industries constituents so that it merely codifies existing industry practice.
Citation Information
C. L. Cortese, H. J. Irvine and M. Kaidonis. "Powerful players: How constituents captured the setting of IFRS 6, an accounting standard for the extractive industries" (2009)
Available at: http://works.bepress.com/helen_irvine/11/