Case | HBS Case Collection | January 2013

The IASB at a Crossroads: The Future of International Financial Reporting Standards (B)

by Karthik Ramanna, Karol Misztal and Daniela Beyersdorfer

Abstract

In late 2012, IASB chair Hans Hoogervorst, just over a year into his term, must address several serious geopolitical challenges that can derail IFRS growth. The SEC has issued a report outlining why the U.S. should not adopt IFRS. Other major economies such as Japan and India begin to dither on IFRS as well. The EU—the IASB's main backer—is embroiled in a debt crisis that divides it; Britain—the strongest voice for IFRS in the EU—flirts with an EU exit. And China remains silent. Adding to these issues are longstanding concerns about the IASB's legal status and its finances. How can Hoogervorst return momentum to IFRS?

Keywords: accounting; IASB; IFRS; International Politics; standard setting; Accounting; International Accounting; International Relations; Government and Politics; Accounting Industry; Public Administration Industry; China; Europe; United States;

Citation:

Ramanna, Karthik, Karol Misztal, and Daniela Beyersdorfer. "The IASB at a Crossroads: The Future of International Financial Reporting Standards (B)." Harvard Business School Case 113-089, January 2013.