Private intervention in actual and new forms of regulation: from the International Accounting Standards Board framework towards new regulatory contexts.

Abstract

Private intervention in regulation is nowadays one of the most debated themes that concern international governance dynamics, and the International Accounting Standards Board is an eminent example of how a private entity could be tasked with the power to intervene in regulation. The aim of this work is to understand and define the framework on which IASB is based, to acknowledge the functioning of private intervention in regulation on the one hand, and to analyze the possible application of such framework in new regulatory contexts on the other. The analysis carried out in this work has been conducted through the interpretation of literary contributions that refer to different areas of academic thinking, to reflect the multidisciplinary nature of the theme chosen. The method used has been the critical review of an extensive literary corpus of heterogeneous nature, in order to define the characteristics of the accounting regulatory framework in which IASB moves, to identify which are the elements that have constituted the success of a private entity in intervening in regulation, and to use these elements to explore expertise-based self-regulation. The application of the defined expertise-based self- regulatory framework to new regulatory contexts is discussed in a dissertation which identifies the Big Data sector as a suitable ground for this integration. It emerged that the elements that constituted the success of IASB as an expertise based private regulator fall outside the quality of the standards and the economic and financial effects of their application. The idea behind this work is that a multidisciplinary analysis of the implications of this regulatory framework, its integration with international governance dynamics and its possible application to new regulatory contexts could give a contribution in the identification of the funding elements of this success.