Development of Accounting Promulgations

Accounting promulgations are developed through the collaborative efforts of many stakeholders including groups, organizations, and agencies. Stakeholders may contribute to the process of defining a standard or rule. At times, stakeholders' interests differ and result in competing influences on the development of accounting promulgations.

As you prepare to complete this assignment, conduct an Internet search on responses to PCAOB notices (of proposed rules). You will find responses from various stakeholders to PCAOB notices. Select one for this assignment.

Examine the development of accounting promulgations by reviewing which stakeholders responded to a proposed rule. Analyze why they are interested in the proposed rule and how they may have an impact on the development process. Consider the phases in the process and how these groups have an impact on the final promulgation.

Review a response to a PCAOB notice of a proposed rule. Write a 2- to 4-page paper analyzing the competing influences of stakeholders in the development of accounting promulgations. Use your review of the PCAOB notice and other Learning Resources to support your analysis.

Be sure to support your work with specific citations from this week's Learning Resources and any additional resources.