International accounting standards: a legal illusion for the benefit of shareholders Online publication date: Sun, 02-Feb-2014
by Frédéric Compin
International Journal of Critical Accounting (IJCA), Vol. 5, No. 6, 2013
Abstract: This paper looks at the legal implications of accounting standards drawn up by private bodies for shareholder benefit and questions their legitimacy and effectiveness. It also explains why the combined actions of the IASB and FASB have led to an inversion of the norm hierarchy. This paper explores the need for alternative and sustainable international accounting standards and explores the hypothesis of standards which would incorporate the GRI framework and make human and environmental resources an integral part of the wealth creation assessment process.
Online publication date: Sun, 02-Feb-2014
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