The 2018 conceptual framework: an investigation of evidence of neoliberalism and stewardship in submitted comment letters

Van Wyk, Janey
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This paper investigates the level of propensity for either a neoliberal or stewardship paradigm which may be prevalent in the comment letters addressing the 2018 Conceptual Framework Revision project. Previous research explored the two paradigms, namely, the neoliberalism and stewardship paradigms evident in accounting and the impact of isomorphism on the views stakeholders hold. This study will seek to indicate the level of consensus among the key stakeholders identified in the paradigm in the Conceptual Framework and the resulting expectation of its perceived legitimacy in financial reporting around the world which has not yet been addressed in previous research. This paper also focuses on whether the stakeholders of financial statements are more inclined toward either paradigm, irrespective of which jurisdiction they may belong. This research adopts a cost-effective methodology by utilising existing data available in the comment letters as the source of data for this study. The key objective is to understand what direction the interested stakeholders recommend the Conceptual Framework should take as the Conceptual Framework has a direct impact on the formulation of existing and future accounting standards
A research report submitted in partial fulfilment of the requirements for a degree of Masters in Commerce at the University of Witwatersrand, Johannesburg, Faculty of Commerce, Law and Management, 2020