Political Activity and Identification of key players: The sacking of mandatory status for SAC4

Jesmin Islam, Mohobbot Ali, Lili Zhang

Research output: A Conference proceeding or a Chapter in BookConference contributionpeer-review


Since 1990, the Australian accounting standard setting process has taken on a more visible and, sometimes, vitriolic political character. Emotions ran strongly against the conferring of mandatory status upon Statement of Accounting Concepts (SAC) 4. While the conceptual framework is one of the ongoing initiatives by the IASB (International Accounting Standard Board), the mixed success of the standard setters in the 1990s in Australia suggests powerful interests were been able to limit the regulatory ambitions of the AASB. In 1995, the extensive revisions of SAC 4 left no doubt that the interests of some specific lobbying groups were not favoured by SAC 4.This paper documents the identity of the ‘key’ players who had significant influence on the removal of mandatory status for SAC 4. It also reveals the value of structured interviews as a research tool in gaining a deeper understanding of the political activities surrounding accounting regulation in Australia
Original languageEnglish
Title of host publicationProceedings of 7th Asian Business Research Conference
EditorsMd Mahbubul Hoque Bhuiyan
Place of PublicationMelbourne, Australia
PublisherWorld Business Institute Australia
Number of pages20
ISBN (Print)9781922069160
Publication statusPublished - 2012
Event7th Asian Business Research Conference - Dhaka, Dhaka, Bangladesh
Duration: 21 Dec 201222 Dec 2012


Conference7th Asian Business Research Conference


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