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An institutional theory perspective on the UK's Private Finance Initiative (PFI) accounting standard setting process

journal contribution
posted on 2023-06-09, 00:02 authored by Iqbal Khadaroo
This article examines the Private Finance Initiative (PFI) accounting standard setting process from an institutional theory perspective. It identifies three forms of institutional pressures and examines their impact on the PFI standard setting process. ‘Coercive’ pressure, exerted by the Treasury, and ‘normative’ pressure, exerted by the accounting profession, were influential in shaping respondents' comments on the PFI accounting Exposure Draft (ED). It is argued that the views of the accounting profession seem to have prevailed in the PFI standard setting process. This might stem from its institutional legitimacy and close ties with the Accounting Standards Board (ASB). In line with its broader policy objective of adopting private sector business practices in the public sector, the Treasury has eventually ‘acquiesced’ to the final PFI accounting standard issued by the ASB.

History

Publication status

  • Published

Journal

Public Management Review

ISSN

1471-9037

Publisher

Taylor & Francis

Issue

1

Volume

7

Page range

69-94

Department affiliated with

  • Business and Management Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2016-01-18

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