In particular individuals A C D E and F had direct or indirect influence

In particular individuals a c d e and f had direct or

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In particular individuals A, C, D, E and F had direct or indirect influence through their positions on either the FRC or the AASB, as further elaborated in Chapters 7 and 8. All individuals had a high or very high level of political connectivity and negotiation skills, as indicated by their senior public service positions. The duration of involvement with GAAP/GFS harmonisation as an application characteristic for persistency offered a first indication of the PEs and other promoters. All individuals were involved with GAAP/GFS harmonisation for at least a number of years and until the FRC strategic direction. Individuals A and B, who were identified as PEs later on, were identified as the originators of the idea and, therefore, involved from the emergence of the idea. While the involvement of individuals B, F and G seized shortly after the FRC strategic direction, Individuals A, C, D and E were involved for several years longer, until their retirement or until the AASB project finished in 2013. This characteristic was, however, not sufficient.
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167 All but two key individuals had a minimum of a bachelor degree, mostly in economics with at least one in accounting. The educational background of two key individuals is unknown. 44 Furthermore, their senior public service positions also suggest a high level of background ideational ability, as it must be assumed that individuals have to be able to make sense and negotiate their way within the existing institutional environment to achieve such a professional position. An important theme that emerged in the analysis of the interviews with respect to the background ideational abilities of key individuals was the issue of ‘accountants versus economists’. Key individuals remarked on the importance of an understanding of both approaches. One key individual (FRC, Interview 18/03/2011) remembered: “I was very fortunate when I did my degree. I did a bachelor of applied economics which was really a mixture between macroeconomics and financial accounting. […] …so many people who go into accounting are not necessarily attracted to […] these conceptual type things. A lot of people drawn to accounting tend to like the sort of the rote-learning and regurgitating of standards and finance and profits and all that sort of thing.[…person a], you know he’s a n economist and he’s a person that then has been able to marry the two together as well. It’s not common.” Before GAAP/GFS harmonisation, GAAP and GFS reports were widely seen as different accounting frameworks that served different purposes. GAAP’s purp ose was to provide information for economic decision making, while GFS’ purpose was to provide data for policy making. The key individuals were influenced by the then requirements for whole of government accounting. At the same time, however, their ability to develop the idea of GAAP/GFS harmonisation, as described in Chapter 7, is a demonstration of their background ideational abilities. This ability is, for example, evident in a quote of key individual A (FRC, Interview 18/03/2011), that identified 44 The respective individuals were unsuccessfully contacted.
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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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