Critically examine and discuss the impact of lobbying on standard setting in accounting. Illustrate your discussion / your analy

Critically examine and discuss the impact of lobbying on standard setting in accounting. Illustrate your discussion / your analy Essay example
Masters
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Finance & Accounting
Pages 8 (2008 words)
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[THE IMPACT OF LOBBYING ON STANDARD SETTING IN ACCOUNTING] (Name) (Instructor/Tutor) (Course/Subject) (Institution/ University) (City, State) (Date) Abstract In this essay, the impact of lobbying on standard setting in accounting is critically evaluated and discussed…

Introduction

Within the United Kingdom, government includes the central government, local government and the devolved government. The government may also refer to staff or members of the House of Parliament or a devolved legislature, ministries, officials and public authorities (PRCA, 2013). According to UKPAC (2013), lobbying refers to attempting to influence or advising others to influence the UK Government, devolved administrations, parliament and local governments. Therefore, lobbying refers to all the actions that interested parties carry out so as to influence the rule-making bodies (Frattini, 2007, p, 7). This paper critically evaluates and discusses the impact of lobbying on standard setting in accounting. In this evaluation, various examples about the impacts of lobbying on standard setting in accounting have been used to support the inferences of the essay. Lobbying and Legitimacy among Standard Setters According to Frattini (2007), lobbying on standard setting in accounting ensures that there is assurance and legitimacy among standard setters. The process of standard setting should be characterised by provision of financial information, which will be acceptable and useful to all parties (Tulsian, 2006). ...
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