Case Study Analysis and Solutions

Case ID: 111084

Abstract:
Case Solution & Analysis for The IASB at a Crossroads: The Future of International Financial Reporting Standards (A) by Karthik Ramanna, Karol Misztal, Daniela Beyersdorfer
What are the major challenges to the continued growth of IFRS worldwide? Should countries be encouraged to pursue "full adoption" of IFRS or should each country determine its own IFRS "convergence" strategy? Given the limitations of governance and information-intermediation institutions worldwide, should IFRS limit the use of fair-value accounting? How should the IASB respond to the growing power of emerging markets such as China in international standard setting? What lessons can be learned from the growth and development of IFRS for international harmonization of corporate governance standards more broadly? This case first describes the IASB's major accomplishments over the 2001-2010 period and then outlines the major challenges to the continued growth of IFRS as it enters its second decade.

Keywords:
Accounting, Accounting methodologies, Adoption, Business ethics, Community development, Corporate governance, Emerging markets, Execution, Financial statements, Globalization, Grey markets, Growth strategy, International Financial Reporting Standards, Liquidation value, Politics, Standardization, Technology adoption lifecycle, The IASB at a Crossroads The Future of International Financial Reporting Standards (A) Case Solution

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