Securities Law Commons^™

Fasb V. Iasc: Are The Structure And Standard Setting Process At The Iasc Adequate For The Securities And Exchange Commission To Accept International Accounting Standards For Cross-Border Offerings? , Charles Canfield

Northwestern Journal of International Law & Business

This comment compares and contrasts the IASC's structure and stan- dard setting process with the structure and process for promulgating ac- counting standards of the Financial Accounting Standards Board ("FASB"), the standard setter for the United States. The purpose of this comparison is to determine whether or not the IASC's structure and process for standard development are adequate for the development of acceptable core standards. This comparison uses FASB, not for the purpose of imposing FASB as the standard setter for the world, but for the purpose of comparing the IASC with an established long-standing standard setter, and because the …