Drafting Accounting Law: An Analysis of Institutionalized Interest Representation

Stuart McLeay and Doris Merkl

in The Economics and Politics of Accounting

Published in print March 2004 | ISBN: 9780199260621
Published online January 2005 | e-ISBN: 9780191601668 | DOI:
 Drafting Accounting Law: An Analysis of Institutionalized Interest Representation

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Examines the politics of accounting regulation when collective forces and social arrangements appear to mitigate potential conflict. Specifically, the process through which accounting law was redrafted in Austria in preparation for EU (European Union) membership is investigated, paying particular attention to the changes in the legal text of the Financial Reporting Act between the Ministerial and Governmental drafts. The Ministerial draft was the outcome of discussions between representatives of employers, employees, academics, and accountants in an attempt to reach consensus on the legal text in cooperation with the Ministry of Justice. These deliberations took place behind closed doors, but were followed by a process of public consultation. In these circumstances, it was possible to identify changes in those aspects of accounting law to which the main parties could not at first agree, and hence to assess the unconditional influence of powerful groups that is exercised in circumstances where disagreement between the parties is already apparent.

Keywords: academics; accountants; accounting; accounting law; accounting regulations; Austria; drafting accounting law; employees; employers; EU membership; Financial Reporting; institutional interest representation; institutional interests

Chapter.  11215 words.  Illustrated.

Subjects: Financial Markets

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