Second they engaged in a coordinated and communicative process to convince

Second they engaged in a coordinated and

This preview shows page 270 - 273 out of 354 pages.

Second, they engaged in a coordinated and communicative process to convince influential actors in the policy and political arena of the worth of the project. By doing so, they coupled the problems, policy and politics streams and managed to convince the FRC to consider GAAP/GFS harmonisation. Finding problems for the policy idea The thesis showed that the policy idea of GAAP/GFS harmonisation was identified in anticipation of and before certain issues occurred or were associated as issues of dual GAAP and GFS reporting. The PEs then went ‘surfing’ for problems that would be addressed by the policy solution to strengthen its chances of a successful agenda entrance. The thesis found that the PEs were able to associate existing, previously
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257 unrelated issues and discussions with the policy solution. These issues included confusion among users, the lack of audit of GFS numbers, the lack of comparability between budgets and end-of-year financial statements and the lack of comparability across jurisdictions. These reasons were cited as a justification for GAAP/GFS harmonisation in the FRC strategic direction, approximately three years after the identification of the policy idea. The first evidence of references to GAAP/GFS harmonisation in a formal political arena was at a parliamentary inquiry into accrual budgeting in 2001. Submissions to the inquiry confirmed that the Commonwealth Auditor-General felt that the audit of GFS data was feasible if it was required by the government. The resulting report in 2002 was the first government report that supported greater harmonisation between GAAP and GFS. The reasons cited for harmonisation were confusion amongst users and difficulties in interpretation when moving between the GAAP and GFS based end-of year financial reports. The audit of GFS data was a separate issue. The thesis found that a number of new issues emerged when the Commonwealth government introduced the dual reporting regime for the budget cycle of 1999/2000. In particular, it was found that politicians were confused by the different bottom lines and treatment of a number of items in GFS and GAAP. Despite being cited as one of the four reasons for GAAP/GFS harmonisation, no evidence was found that comparability across jurisdictions was discussed in the context of a dual reporting regime in any formal and meaningful way at the governmental or standard setting level prior to the identification of the policy idea. The first evidence of the complete set of these problems being formally presented was in the draft strategic direction at the FRC meeting in September 2002, the meeting
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258 before the direction was issued. Even a HoTARAC discussion paper presented in an AASB meeting in July 2002 only noted that there were inconsistent approaches to whole of government reporting across Australian jurisdictions (HoTARAC 2002).
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  • Fall '13
  • Government, The Land, International Financial Reporting Standards, Financial Accounting Standards Board, Australian Accounting Standards Board, Snow

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