Scholarship at UWindsor

Title

The lord of global standards: The twin towers. Financial Reporting, Regulation, and Governance

Authors

Audra Ong, University of WindsorFollow
Roger Hussey, University of Windsor

Document Type

Article

Publication Date

2005

Publication Title

Financial Reporting, Regulation, and Governance

Volume

4

Issue

1

Keywords

IASB, FASB, international accounting, harmonization, rules vs. principles approach

Abstract

The article is a satire on Tolkien’s Lord of the Rings. It provides, in a humorous style, an analysis of the rules vs. principles approach debate to international accounting harmonization. Although the debate is often referred to in the literature, explanations of the actual nature and dimensions of the controversy are weak. By placing the debate in a mythical but familiar setting, the authors are able to explain in simple terms the nature of the controversy, its political dimensions and the potential relevance for developing countries. By representing countries and their roles with individual characteristics from the Lord of the Rings, the article offers a fresh perspective in a highly readable style.

Comments

This article was originally published in Financial Reporting, Regulation and Governance, 2005 Vol. 1. Copyright Curtus University

Recommended Citation

Ong, Audra and Hussey, Roger. (2005). The lord of global standards: The twin towers. Financial Reporting, Regulation, and Governance. Financial Reporting, Regulation, and Governance, 4 (1).
https://scholar.uwindsor.ca/odettepub/8