This book focuses on the recent transformations of national accounting systems. It extends comparative accounting literature using a new comprehensive framework, which embeds a governance perspective throughout the financial reporting process. The authors track transformations in standard setting, enforcement and disclosure regulation over time in three typical OECD countries. Modes and degrees of convergence illustrate where "global governance" in accounting has already been achieved and where national regulators still dominate the accounting agenda.

This book takes a look at the world of accounting and examines business's relationship with the state. It compares the accounting regulations in Germany, the UK and the US to provide evidence that privatization and convergence must be used with caution, at least in the world of accounting.