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The changing face of ethics : Developing a code of ethics for professional accountants from 1977 to 2006

Sonnerfeldt, Amanda LU and Loft, Anne LU (2018) In Accounting History
Abstract
This article aims to contextualise the development of the Code of Ethics for Professional Accountants by the International Federation of Accountants (IFAC) between 1977 and 2006. Drawing on transnational regulation literature, an extensive review of archival documents was conducted. The analysis unfolds the development of the Code in an increasingly complex regulatory environment, revealing the dynamic forces and sequence of events that influenced its nature and contents over three distinctive periods. This study reveals that the shifts in IFAC’s priorities in pursuit of its global aspirations created mechanisms that allowed transnational accounting firms and international regulators to influence the priorities of the Ethics Committee. The... (More)
This article aims to contextualise the development of the Code of Ethics for Professional Accountants by the International Federation of Accountants (IFAC) between 1977 and 2006. Drawing on transnational regulation literature, an extensive review of archival documents was conducted. The analysis unfolds the development of the Code in an increasingly complex regulatory environment, revealing the dynamic forces and sequence of events that influenced its nature and contents over three distinctive periods. This study reveals that the shifts in IFAC’s priorities in pursuit of its global aspirations created mechanisms that allowed transnational accounting firms and international regulators to influence the priorities of the Ethics Committee. The Committee’s efforts to legitimise and secure endorsement of the Code were constrained by its initial work programme to develop a model code through minimum harmonisation. Later, the Committee redirected its focus towards meeting the needs of the international regulators by adding more rule-based guidance within the principle-based Code and heavily prioritising independence. (Less)
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author
organization
publishing date
type
Contribution to journal
publication status
epub
subject
keywords
accounting history, standard setting, transnational regulation, code of ethics, International Federation of Accountants
in
Accounting History
publisher
SAGE Publications Ltd
external identifiers
  • scopus:85041365805
ISSN
1032-3732
DOI
10.1177/1032373217751219
language
English
LU publication?
yes
id
af4b5a03-86d7-449c-9875-77c1e9984565
date added to LUP
2017-12-13 14:09:13
date last changed
2018-02-18 05:05:57
@article{af4b5a03-86d7-449c-9875-77c1e9984565,
  abstract     = {This article aims to contextualise the development of the Code of Ethics for Professional Accountants by the International Federation of Accountants (IFAC) between 1977 and 2006. Drawing on transnational regulation literature, an extensive review of archival documents was conducted. The analysis unfolds the development of the Code in an increasingly complex regulatory environment, revealing the dynamic forces and sequence of events that influenced its nature and contents over three distinctive periods. This study reveals that the shifts in IFAC’s priorities in pursuit of its global aspirations created mechanisms that allowed transnational accounting firms and international regulators to influence the priorities of the Ethics Committee. The Committee’s efforts to legitimise and secure endorsement of the Code were constrained by its initial work programme to develop a model code through minimum harmonisation. Later, the Committee redirected its focus towards meeting the needs of the international regulators by adding more rule-based guidance within the principle-based Code and heavily prioritising independence.},
  author       = {Sonnerfeldt, Amanda and Loft, Anne},
  issn         = {1032-3732},
  keyword      = {accounting history,standard setting,transnational regulation,code of ethics,International Federation of Accountants},
  language     = {eng},
  publisher    = {SAGE Publications Ltd},
  series       = {Accounting History},
  title        = {The changing face of ethics : Developing a code of ethics for professional accountants from 1977 to 2006},
  url          = {http://dx.doi.org/10.1177/1032373217751219},
  year         = {2018},
}