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The UK Accounting Standards Board, 1990-2000: Restoring Honesty and Trust in Accounting

The UK Accounting Standards Board, 1990-2000: Restoring Honesty and Trust in Accounting

Paperback

Series: Routledge Studies in Accounting

AccountingEconomics

ISBN10: 1032388161
ISBN13: 9781032388168
Publisher: Routledge
Published: Oct 9 2024
Pages: 254
Weight: 0.90
Height: 0.60 Width: 6.14 Depth: 9.21
Language: English

In the late 1980s, financial accounting in Britain was in disarray. 'Creative' accounting was rife. The authority of the industry's standard-setters had been drastically compromised when their rules for inflation accounting were first ignored by many firms and then abandoned. There were calls for government to replace the accountants' self-regulation with a tough regulatory regime close to the American model. Also, rapid change in the financial industry was generating complex new financial schemes for which existing accounting standards were inadequate. This book tells the story of the next decade: the problems the standard-setters faced, both technical and political, the resistance they met, the solutions they developed, and the durability of their work. Innovations they developed have become part of global accounting standards.

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Tweedie, David

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Accounting