Bridging the gap between academia and standard setters

  • Rowena Sinclair, Carolyn J. Cordery
  • Pacific Accounting Review, April 2016, Emerald
  • DOI: 10.1108/par-01-2016-0005

How can academics work with accounting and auditing standard setters?

What is it about?

It is often said that academics and practitioners'talk past each other' but the underlying premise of this paper is that academics can (and do) assist accounting and auditing standard setters in their work to improve financial reporting and assurance. We provide examples of when this has worked and also suggestions for better engagement between academics and standard setters.

Why is it important?

Standard setting (whether financial or assurance based) sets the rules and principles for preparers and auditors. Yet there are often unintended consequences from these standards. Standard setters could learn from past mistakes which are often hidden away in academic articles. Further academics often choose topics to research that, with a bit of tweaking, could be more relevant to standard setting practice. This article suggests ways these two things can happen for the benefit of standard setters, academics and the accounting and assurance community.


Professor Carolyn J Cordery
Aston University

This is a reflection of two academics who were at the time active on financial and assurance standard setting boards. As such it shows very practical examples of how academics can help in this important process.

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The following have contributed to this page: Professor Carolyn J Cordery