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“Interests” and accounting standard setting in Malaysia

Selvaraj D. Susela (Faculty of Business and Accountancy, University of Malaya, Kuala Lumpur, Malaysia)

Accounting, Auditing & Accountability Journal

ISSN: 0951-3574

Article publication date: 1 August 1999

7200

Abstract

This paper offers insights into the conflicts and tensions within the Malaysian accounting profession and the power struggle therein to dominate the accounting standard setting process, within the context of a rapidly developing country. It shows how interest groups and parochial interests, along with issues of self‐protection, affected the process of standard setting, which was controlled by different interests over the period under study. At one time the profession dominated. But far from being a monolithic body, it was in turn split according to various interests: the Big Six behind the Malaysian Association of Certified Public Accountants (MACPA) and the smaller firms behind the Malaysian Institute of Accountants (MIA). At other times big business prevailed. These conflicts and power struggles are revealed through an analysis of the case of the Goodwill Accounting Standard.

Keywords

Citation

Susela, S.D. (1999), "“Interests” and accounting standard setting in Malaysia", Accounting, Auditing & Accountability Journal, Vol. 12 No. 3, pp. 358-387. https://doi.org/10.1108/09513579910277410

Publisher

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MCB UP Ltd

Copyright © 1999, MCB UP Limited

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