harmonisation 28 June FRC issues strategic direction to adopt IFRSs and GAAPGFS

Harmonisation 28 june frc issues strategic direction

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harmonisation 28 June FRC issues strategic direction to adopt IFRSs and GAAP/GFS harmonisation appears for the first time in FRC minutes 7 April FRC revises strategic direction for GAAP/GFS harmonisation May to October BEFR undertaken by the Treasurer and the Minister for Finance and Administration through a Steering Committee lead by Finance recommends GAAP/GFS harmonisation 1 August, Meeting in Canberra to discuss GAAP/GFS harmonisation, including representatives from ANAO, ABS, FRC and AASB, Treasury, Finance 28 August, Ken Henry (HoTs Chair, Secretary to Treasury) writes to the FRC Chair requesting that GAAP/GFS harmonisation be given a high priority 5 December Chairman of JCPAA writes to FRC endorsing GAAP/GFS harmonisation 18 December AASB Chairman writes letter to FRC Chairman to advise about AASB’s concerns with FRC strategic direction July HoTs establishes a joint HoTARAC Working Group to consider GAAP/GFS harmonisation HoTs Chair and Head of Department of Finance and Administration meet with the AASB Chair to discuss public sector issues 4-5 December AASB decides not to pursue GAAP/GFS harmonisation 12 December FRC determines broad strategic direction for GAAP/GFS harmonisation 12-13 February 2003 FRC and AASB Chairman answer to Senate Economic Legislation Committee about strategic direction
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205 8.2 THE SUBSTANCE AND SUCCESS FACTORS OF GAAP/GFS HARMONISATION This section identifies the arguments and aspects that were addressed by the PEs to promote GAAP/GFS harmonisation over the course of the agenda setting process. The DASF assumes that ideas are translated into reality by communicating the substance of an idea in a coordinated process. The previous chapter showed that at the time of the identification of GAAP/GFS harmonisation, other public sector accounting issues dominated the agendas of various bodies and organisations. The DASF assumes that PEs will ‘surf’ for problems to justify their pet solution. This search for problem s is part of a coordinated and communicative process and is intertwined with the arguments that the PEs make to promote the policy idea. According to the DASF, this substantive dimension includes arguments in three areas. They are: cognitive aspects (including technical feasibility; discussed in section 8.2.1); normative aspects (including value acceptance; discussed in section 8.2.2) at the program and policy level; 57 and the consideration of potential future constraints. In addition, the DASF assumes that there are increased chances for a successful agenda entrance when there is receptivity among elected decision-makers (discussed in section 8.2.3). 8.2.1 Cognitive aspects and technical feasibility Cognitive aspects are also referred to as ‘causal’ aspects of ideas. They recognise that a solution is assumed to resolve the problem or issue (Dunleavy and Hood 1994; Hall 1993; Schmidt 2002, 2008). In the case of GAAP/GFS harmonisation, cognitive aspects are deemed to be of a technical nature. At the program level, this requires a 57 The philosophical level has been discussed in Chapter 7.
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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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