An Analysis of the FASB's Dissenting Opinions

Accounting

Speaker:Julie Harrison, University of Auckland
Date: Wednesday 23 May 2012
Time: 14.00
Location: Teaching Room 3 Building One

Further details

An Analysis of the FASB’s Dissenting Opinions
 
ABSTRACT
 
In this paper we report the results of a content analysis of dissenting opinions found in Financial Accounting Standard Board (FASB) standards. During 1973 to 2009 the FASB issued 171 financial accounting standards. Half of these standards contained dissenting opinions. We identify and classify the arguments in the dissenting opinions using a slightly modified taxonomy from Yen et al. (2007).  Our results have implications for the joint FASB/IASB revision of the conceptual framework and Statement of Financial Accounting Concepts 8. We also compare the frequency of dissenting arguments against the American Accounting Association’s Financial Accounting Committee’s criteria for quality of accounting standards (AAA 1998).