The Role of Accounting Political Lobby in Issuing American Accounting Standards and its Effect in Issuing International Accounting Standards

This paper reports on the relationship between political Interests and the process of issuing international accounting standards. The basic hypothesis of the paper is proved by taking the situation of USA and the effect of political interests in the Financial Accounting Standard Board (FASB) directly and in the International Accounting Standard Committee (IASC) indirectly as well. The (IASC) tried to eliminate differences and deepen similarities through propose many alternatives. Instead, it had started decrease alternatives, which reflects the political dimension. Besides getting the international feature. On the other hand, all IASs, historically, had come after Putting both findings together, (IAS) and (US GAAP) do not appear to be substantially different; rather they seem to be of similar quality. differently issuing American accounting standards which strength the basic hypothesis of this research and reveal the effect of American interests in issuing (IASs) and forbid undeveloped countries to utilize accounting as a tool serving economic development The paper provided results and recommendations in this record.