Developing sustainable reporting standards

Abstract

Purpose

This paper aims to evaluate the development of reporting standards for both financial reporting and for corporate social responsibility (CSR) reporting. It aims to argue that both International Financial Reporting Standards and US Generally Accepted Accounting Principles are vehicles of colonial exploitation and cannot be sustainable. This can be contrasted with the voluntary approach to the development of CSR reporting standards.

Design/methodology/approach

The methodological approach is dialectical, and is based upon diagnosis and concomitant prognosis.

Findings

The findings take the form of an evaluation of progress so far in the harmonisation of financial reporting standards, the development of CSR reporting standards and the consequences are contrasted with the rhetorical justification. From this a prognosis is developed.

Research limitations/implications

The implications are a projection into the future and therefore subject to limitations.

Originality/value

This paper increases the understanding of the relationship between standards development and exploitation and the implications for the longer term.

Citation

Aras, G. and Crowther, D. (2008), "Developing sustainable reporting standards", Journal of Applied Accounting Research, Vol. 9 No. 1, pp. 4-16. https://doi.org/10.1108/09675420810886097