REPRESENTATION AND DEMOCRATIC PROCESS IN THE PRODUCTION OF ACCOUNTING STANDARDS BY THE IASB: A DISCURSIVE ANALYSIS

Abstract

In a globalized world in which democratic representation and values are praised, especially in the West, institutions that do not profess and practice them are criticized for lack of legitimacy. The International Accounting Standards Board (IASB), as a social institution, influences and is influenced by the social environment. However, criticism has been made of the institution regarding its legitimacy, especially as it is a regulatory entity of a private nature. Such criticisms call into question values such as independence, public interest, due process, accountability, diversity, representativeness. The objective of this work is to analyze, based on some documents published by the IASB, the values that this institution professes, seeking to confer the perception of legitimacy before the public. The theoretical premise adopted is that of social constructivism and the institutional theory of accounting, which advocate that meanings and symbols are social constructions and that, therefore, institutions play an important role in the creation, maintenance or modification of symbolic universes, as well as in their legitimation. Discourse Analysis (DA) will be used as an instrument capable of revealing the values advocated by the IASB. In the end, it can be seen that the IASB has professed values such as representativeness, diversity, transparency, due process, public interest, independence, accountability, seeking to legitimize itself before the public. In this sense, this article contributes to show that the IASB's discourse is in tune with social values dear to the Western world.