The role and power of technical staff in international accounting standard setting

Abstract

This study investigates the role of technical staff within a global standard setting organization, the International Accounting Standards Board (IASB). Building on publicly available documents, interviews with staff and Board members, and observations of Board meetings, staff practices of standard setting are explored in light of their impact on the standard setter’s decision-making. It is found that the technical staff have individual approaches to their work on standard setting projects. They find themselves constrained by, but also shaping, the organizational structures of the IASB. In the course of their project work they become specialist experts in both the project’s technical issues as well as procedural processes. This makes the staff powerful agents within the realm of international accounting standard setting, because their efforts influence how the IASB moves through its work plan. It also explains why they may be a preferred target for lobbying activities and how they contribute to the standard setter’s public reputation. Notably, staff practices are consistent over time and across projects. In summary, it is suggested that the IASB’s technical staff are a critical resource of international accounting standard setting.