search query: @author Schmidt, M. / total: 15
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| Author: | Schmidt, M. |
| Title: | On The Legitimacy of Accounting Standard Setting by Privately Organised Institutions in Germany and Europe |
| Journal: | Schmalenbach Business Review
2002 : APR, VOL. 54:2, p. 171-193 |
| Index terms: | ACCOUNTING STANDARDS INSTITUTIONS GERMANY EUROPE |
| Language: | eng |
| Abstract: | Recent developments in German and European accounting regulation show a growing relevance of accounting rules set by privately organised institutions. This article refers to those developments. It analyses the institutional legitimacy of accounting standard setting by private authorities, using an economic approach based on the concept of hypothetical consent. Legitimacy concerns occur particularly for the German standard setter, since the authors cannot preclude various conflicting interests. The article provides suggestions for the German legislature to mitigate the problem and to facilitate the installment of structural safeguards that can assure a legitimate standard setting process. |
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