In particular PE C was widely perceived as possessing political skills He was

In particular pe c was widely perceived as possessing

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of constituents. In particular PE C was widely perceived as possessing political skills. He was appointed to the Chair of HoTARAC in 2001 and it is reasonable to assume that this committee was established because HoTs wanted to further the project by providing
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219 technical support. PE C became the ‘public face’ of GAAP/GFS harmonisation, and he lobbied the FRC and the AASB, but also other organisations and institutions. When asked about the reasons why they supported GAAP/GFS harmonisation, all interviewed HoTs mentioned both cognitive and normative arguments. At the cognitive level, the most notable argument was the existence of different reporting regimes across jurisdictions. In June 2000, GAAP/GFS harmonisation appeared for the first time on the official agenda of the AASB. According to one interviewee, HoTs had played a main role in getting the project on it. However, this claim could not be confirmed by other data. During 2000-2002, there was little progress on the project at the AASB level. HoTs officially endorsed GAAP/GFS harmonisation only in October 2002, which was about one and a half months before the strategic direction was issued. The establishment of the HoTARAC GAAP/GFS Harmonisation Working Group in July 2001, however, shows the commitment of HoTs to the project and the importance they gave to the cognitive aspects of the idea and the technical feasibility of the project. The establishment of the working group was another tool in the lobbying process to convince the standard setters of the technical feasibility of the project. The official endorsement shortly before the FRC strategic direction might have been necessary to convince the FRC, as the AASB was perceived as lacking action with regard to the project on GAAP/GFS harmonisation. Two interviewees (AASB Interview 23/02/2010, ACAG Interview 10/11/2010) suggested that throughout 2002, the AASB’s apprehension for the project became apparent. Public sector constituents, including HoTs, might have anticipated the AASB’s deci sion. HoTs provided further support in comment letters to the AASB. Key individuals E, as the Chairperson of HoTs, and F met on several occasions with the FRC and the AASB to promote the project (refer to Appendix 9).
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220 With respect to normative considerations, all interviewed HoTs stated that they believed that GAAP/GFS harmonisation would improve public sector accounting, but no further comments were made about any detailed normative discussions. Four interviewees also referred to headline shopping and confusion by politicians (FRC Interview 06/05/2010, FRC, Interview 03/10/2010, HoTs Interview 17/11/2010, PE C Interview 09/03/2010). It should be noted, however, that there was no evidence found that promoters of GAAP/GFS harmonisation provided any concrete evidence for headline or presentation shopping in any formal discussions. Instead, it was found that decision-makers from the FRC were satisfied with anecdotal evidence by PEs (FRC Interview 06/05/2010, FRC, Interview 03/10/2010, HoTs Interview 17/11/2010, PE C Interview 09/03/2010).
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  • Government, The Land, International Financial Reporting Standards, Financial Accounting Standards Board, Australian Accounting Standards Board, Snow

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