Standard Setting for Accountants and the Role of the Public Interest Oversight Board

ECGI - Law Working Paper No. 291/2015

16 Pages Posted: 13 May 2015

See all articles by Eddy Wymeersch

Eddy Wymeersch

Ghent University - Financial Law Institute; ECGI

Date Written: May 11, 2015

Abstract

Standard setting for accountants and auditors takes places in international bodies, organised within the framework of the International Federation of Accountants. These are the International Standards on Auditing (ISAs) and the ethical standards. External oversight is exercised by the Public Interest Oversight Board, itself monitored by the international financial institutions. The setting of these standards is based on a balance between expert interests, in which professionals play an important role, and external oversight. These self-regulatory standards are addressed to accountants worldwide and are transposed and implemented nationally by different means (legislation, contract, professional associations).

Keywords: accountants, auditors, audit standards, ISA, public interest, PIOB, IFAC

JEL Classification: K22, M40

Suggested Citation

Wymeersch, Eddy O., Standard Setting for Accountants and the Role of the Public Interest Oversight Board (May 11, 2015). ECGI - Law Working Paper No. 291/2015 , Available at SSRN: https://ssrn.com/abstract=2604992

Eddy O. Wymeersch (Contact Author)

Ghent University - Financial Law Institute ( email )

Universiteitstraat 4
Gent, B-9000
Belgium
+32 9 264 68 27 (Phone)
+32 9 264 68 55 (Fax)

HOME PAGE: http://www.law.ugent.be/fli

ECGI ( email )

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Belgium

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