"Accounting standard setting is a political lobbying process, and as such offers various Opportunities and means for interested parties to affect its outcomes."
Required: Provide research based appropriate answers to the following questions.
(a) The 'political lobbying' Stands for?
(b) Is accounting standard setting in Australia a specifically political lobbying process? Why or why not?
(c) Who might be the 'interested parties' and in what way do they try to affect the outcomes of the standard setting process?
(d) Do you agree with this statement? Why or why not?
Note: Your submission should be a blend of findings, views and opinions from existing writings as well as your own analysis and views on those issues.