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Does Stewardship still have a role?

Lookup NU author(s): Anthony Miller, Professor David McCollum-Oldroyd

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Abstract

The paper analyzes the decision of FASB and IASB not to treat the motivational and control aspectsof stewardship as a separate and distinct reporting objective to that of facilitating investment decisions. It does so firstly by considering the demand for information to control agents; and secondly by assessing the capacity of decision-useful information to replicate stewardship effects. The paper finds an essence to accounting based on the legal protection of property rights, encompassing stewardship, which has remained constant since earliest times. The decision taken by the boards on stewardship also appears disconnected from changes in the capital markets as well as the writings on reporting objectives that preceded it.

Publication metadata

Author(s): Miller AD, Oldroyd D

Publication type: Article

Publication status: Published

Journal: Accounting Historians Journal

Year: 2018

Volume: 45

Issue: 1

Pages: 69-82

Online publication date: 01/06/2018

Acceptance date: 01/02/2018

Date deposited: 13/03/2018

ISSN (print): 0148-4184

ISSN (electronic): 2327-4468

Publisher: Academy of Accounting Historians

URL: https://doi.org/10.2308/aahj-10585

DOI: 10.2308/aahj-10585

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