ABSTRACT
Applications of tetranormalization to the accounting standard-setting process may provide for a better and more meaningful outcome. In this chapter, I will take the fortuitous opportunity to retrospectively examine problems encountered in the early years of the accounting standards-setting process and how a tetranormalization approach may have helped to reduce if not prevent the problems encountered. While this hindsight cannot help the past problems that I will be discussing, it nevertheless can be both informative and instructive with respect to the importance of integrating all the affected parties into the standard-setting process.
