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Accounting for the U.K.'s Private Finance Initiative: An Interview‐Based Investigation

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  • Ron Hodges
  • Howard Mellett
Abstract
This article investigates the development of the public sector accounting policy for the United Kingdom's Private Finance Initiative. A novel approach to investigating the development of accounting regulation is applied, based on interviews with persons involved in the process. A fuller explanation of events is obtained by going beyond published material that is already in the public domain in order to reflect the informal procedures which cause regulatory outcomes to be determined by negotiation and persuasion. The article concludes that the limited participation of public sector bodies at the formal stage of lobbying through written representations may not be critical in view of the existence of other means to influence the outcome of the regulatory process.

Suggested Citation

  • Ron Hodges & Howard Mellett, 2005. "Accounting for the U.K.'s Private Finance Initiative: An Interview‐Based Investigation," Abacus, Accounting Foundation, University of Sydney, vol. 41(2), pages 159-180, June.
    • Handle: RePEc:bla:abacus:v:41:y:2005:i:2:p:159-180
    DOI: 10.1111/j.1467-6281.2005.00178.x
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    References listed on IDEAS

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    1. R. G. Walker, 2003. "Public-Private Partnerships: Form Over Substance?," Australian Accounting Review, CPA Australia, vol. 13(30), pages 54-59, July.
    2. John E. McEnroe, 2002. "An Analysis of Post–Expectation Gap Voting Behaviour by the ASB," Abacus, Accounting Foundation, University of Sydney, vol. 38(3), pages 350-377, October.
    3. Ron Hodges & Howard Mellett, 2002. "Investigating standard setting: accounting for the United Kingdom’s private finance initiative," Accounting Forum, Taylor & Francis Journals, vol. 26(2), pages 126-151, June.
    4. Elmuttassim Hussein, Mohamed & Edward Ketz, J., 1991. "Accounting standards-setting in the U.S.: An analysis of power and social exchange," Journal of Accounting and Public Policy, Elsevier, vol. 10(1), pages 59-81.
    5. Garry Carnegie & Brian West, 1997. "Observing the PSASB: ED 50 and the Recognition of Infrastructure Assets," Australian Accounting Review, CPA Australia, vol. 7(14), pages 30-39, October.
    6. McLeay, Stuart & Ordelheide, Dieter & Young, Steven, 2000. "Constituent lobbying and its impact on the development of financial reporting regulations: evidence from Germany," Accounting, Organizations and Society, Elsevier, vol. 25(1), pages 79-98, January.
    7. Darrin Grimsey & Mervyn K. Lewis, 2002. "Accounting for Public Private Partnerships," Accounting Forum, Taylor & Francis Journals, vol. 26(3-4), pages 245-270, September.
    8. George Georgiou, 2004. "Corporate Lobbying on Accounting Standards: Methods, Timing and Perceived Effectiveness," Abacus, Accounting Foundation, University of Sydney, vol. 40(2), pages 219-237, June.
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    Cited by:

    1. Okamoto, Noriaki, 2017. "Norm entrepreneur lobbying and persuasion: A case study involving the IASB's modification of an exposure draft," Research in Accounting Regulation, Elsevier, vol. 29(2), pages 129-138.
    2. Toms, Steven & Beck, Matthias & Asenova, Darinka, 2011. "Accounting, regulation and profitability: The case of PFI hospital refinancing," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 22(7), pages 668-681.
    3. Cortese, Corinne & Irvine, Helen, 2010. "Investigating international accounting standard setting: The black box of IFRS 6," Research in Accounting Regulation, Elsevier, vol. 22(2), pages 87-95.
    4. Weetman, Pauline, 2006. "Discovering the ‘international’ in accounting and finance," The British Accounting Review, Elsevier, vol. 38(4), pages 351-370.

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