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Introduction to the Special Issue: The Globalization of Accounting Standards


  • Nolke Andreas


We are currently witnessing the evolution of global accounting standards, as developed by the International Accounting Standards Board (IASB). This is a remarkable development, not only because accounting standards are relevant for all business operations. Whereas accounting standard-setting has previously been a task of national authorities, the process will now be managed internationally by a London-based organisation whose parent foundation is a private company incorporated in the US state of Delaware and mainly financed by the Big Four accounting firms. Furthermore, the US appear to be willing to accept foreign standards that are quite different from their own Generally Accepted Accounting Standards (GAAP). This does not only contradict a widespread perception that equals globalization with Americanization, but also offers a remarkable contrast to US unilateralism in other policy fields. Finally, we are also amidst a major change in the substance of accounting standards, as indicated by a shift from historic cost to fair value accounting within the work of the IASB. This special issue of Business and Politics is devoted to a systematic explanation of these developments, drawing on concepts from International Relations, International Political Economy and Systems Theory.

Suggested Citation

  • Nolke Andreas, 2005. "Introduction to the Special Issue: The Globalization of Accounting Standards," Business and Politics, De Gruyter, vol. 7(3), pages 1-9, December.
  • Handle: RePEc:bpj:buspol:v:7:y:2005:i:3:n:1

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    Cited by:

    1. Ashima Goyal, 2006. "The Impact of ICT in Making Global Markets More Inclusive," Development Economics Working Papers 22336, East Asian Bureau of Economic Research.
    2. Carney Richard, 2011. "The Domestic Political Origins of Global Financial Standards: The Agrarian Roots of American Securities Regulations," Business and Politics, De Gruyter, vol. 13(3), pages 1-41, October.

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