chapter  3
14 Pages

Transnational expert-driven standardisation: Accountancy governance from a professional point of view

BySEBASTIAN BOTZEM

Private standardisation is on the rise in a globalising economy. For a long time, private standards have complemented national rules and regulations. In some cases such as accounting, transnational standardisation is going quite far, potentially replacing national standards. These developments connected to economic and political globalisation challenge corporations, stakeholders, and nation states. Evolving transnational accounting standardisation not only challenges established national actor constellations. It also leads to a harmonisation of accounting rules and practices bringing about conformity. This way, effective transnational standardisation can contribute to the establishment of a capital market-oriented global economic order.