Through Werhane and Freeman’s (1997) conception of ethical diversity and Brown, Tower and Taplin’s (2004) spectrum of financially bound stakeholder diversity, this paper considers the limited functional diversity of the memberships of the national accounting standard setting boards of Canada (Canadian Accounting Standards Board and its masters Accounting Standards Oversight Council) and the United States (Financial Accounting Standards Board and its overseer Financial Accounting Foundation). The results of the study show that all boards are heavily tilted toward interest-based ethically bound membership as reflected by the very strong core-financial stakeholder representation. The lack of diversity of board membership has grave implications for the citizens it directly represents and citizens outside the boundaries of Canada and the United States of America that are affected by the boards’ actions.
|Keywords:||Limited Diversity, Canadian Accounting Standard Board, Federal Accounting Standards Board|
Associate Professor, School of Accounting, (Governance Reporting and Regulation & Digital Ecosystems and Business Intelligence), Curtin University of Technology, Perth, Western Australia, Australia
Professor, DEBII, Curtin University of Technology, Perth, WA, Australia
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