2.2.7
Employees And Trade Unions
Some trade unions participate at intergovernmental levels; and
examples include: the European Trade Union Confederation (ETUC); The World
Confederation of Labor (WCL); and many others. Their interest centers on
information relating to subsidiary activities and employees satisfaction.
Information concerning the terms, conditions, scale, security, and location of
employment are of special concern to them (Radebaugh and gray, 1992). However,
Christopher Nobes (1992) argues that trade unions and other employees groups
connected with multinationals may have a desire to understand and compare
financial statements involving companies from several countries.
2.2.8
Credit Institutions
International credit institutions will constantly be
examining, and by implication comparing, the financial statements from
different countries. Bankers and lenders may sometimes require borrowers to
submit particular accounting information for appraisal and such information
needs to be uniform.
2.2.9
Accountants, Auditors and the General Public
Their role becomes very important especially when looking at
the technical skills and other skills they have in accounting related issues.
It is, however, at the level of the international professional organization
that most of the developments are taking place in accounting harmonization.
Examples of international professional accounting organizations include: the
International Accounting Standards Committee (IASC); International Federation
of Accountants (IFAC); the American Institute of Certified Public Accountants
(AICPA); and many others. Some exist at national levels. They try to formulate
and publish accounting standards that will be observed in the preparation and
presentation of financial statements for public use.
The general public involves all other interested parties not
listed above. Their interest is generally on information about the financial
environment.
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