Outline the major issues covered in the exposure draft

Reference no: EM132312544 , Length: word count:1000

Assignment Question -

Find an exposure draft or proposal for a new accounting standard which has been opened for public comments. These can be found on the websites of most standard-setting organisations, such as the IASB, AASB and FASB. (Hint: These websites can be quite difficult to navigate, so as a first step try typing "IASB exposure draft and comment letters"/"FASB exposure draft and comment letters" into Google or other search engine of your choice). Read a sample of the comments from a range of respondents. Select four respondents, for example, from accounting bodies, industry, companies or corporate bodies. Include copies of the comment letters you wish to discuss and complete the following tasks:

a) Outline the major issues covered in the exposure draft (what is the exposure draft introducing or changing?)

b) Is there agreement among the various groups? Describe the issues where there is agreement/disagreement and provide examples.

c) Can the behaviour of the regulator be explained by 'public interest theory'? Justify your position.

d) Apply each of the theories of regulation (public interest, private interest and capture) to the comments letters. Justify which theory(ies) you think best explains the comments.

Word limit - 1000 words. Please note: you need to attach comment letters you selected for your report (no need to attach exposure draft). Attached all materials needed. you don't have to research. Just need to follow guidance provided.

Attachment:- Assignment Files.rar

Reference no: EM132312544

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