through avoidance of differing numbers comparability by using a harmonised

Through avoidance of differing numbers comparability

This preview shows page 223 - 225 out of 354 pages.

through avoidance of differing numbers, comparability by using a harmonised accounting standard and by providing assurance of these numbers through their audit. When and where normative arguments were addressed is discussed in detail in sections 8.3 to 8.5. 8.2.3 Further criteria for the survival of GAAP/GFS harmonisation In addition to technical feasibility, value acceptance and public acquiescence, the DASF has adopted further MS criteria about improving the successful adoption of an idea. These criteria are the anticipation of future constraints and a reasonable probability of receptivity by elected decision-makers. In the GAAP/GFS harmonisation agenda setting process, potential future constraints include cost considerations and the inter- dependency of public sector financial reporting from authoritative international standard setting bodies such as the IASB for GAAP reporting and the IMF for GFS reporting. Receptivity for GAAP/GFS harmonisation had to be considered at the FRC and the AASB level. It is important to note that while the members of these Boards are appointed, they are not elected by the wider public. In addition, they work within a selected field of specialists. As such, receptivity by decision-makers can be expected when there is support for a project by the policy or epistemic community or from political actors. An alternative reason might be that there is some other benefit for the board members, such as increased power or regulatory responsibility.
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210 Figure 8.2 summarises the relevant aspects of the discussions of the policy solution GAAP/GFS harmonisation in the agenda setting process. Figure 8.2: Extended typology of types of ideas in the GAAP/GFS harmonisation program Policy level Program level Philosophical level Idea in the foreground of the policy debate Concepts and theories in the foreground of the policy debate Underlying assumptions in the background of the policy debate Cognitive level Policy technical aspect How does policy offer solution to problem? By using only one set of principles, issues related to dual reporting, as well as other issues can be resolved Technical feasibility of hybrid approach demonstrated by HoTARAC working group Programs Ideas as elite policy prescriptions that help policy makers to chart a clear and specific course of policy action How does program define problem? Problems arise from use of two different reporting frameworks for budgetary cycle documentation Identify method to solve problem Use only one set of principles (Use GAAP) (Use GFS) Use GAAP/GFS hybrid = all options captured under GAAP/GFS harmonisation Paradigms Ideas as elite assumptions that constrain the cognitive range of useful solutions available to policy makers Microeconomic versus macroeconomic financial reporting principles in the context of accrual and mixed measurement valuations How does policy and program ‘mesh’ with paradigm?
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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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