In my opinion, accounting provides a unique case study of global economic governance in the making. This 'experiment' currently faces two significant challenges: the International Accounting Standards Board has not built enough legitimacy as a global policymaking entity, and there is a high risk that implementation within the European Union will not be consistent enough to fulfil the promise of financial statements' comparability.
The Global Accounting Experiment includes specific recommendations to the IASB, the EU, the US, the investment community and other participants so that this ambitious endeavour does not end in failure.
I also published a condensed version of the main arguments in the May issue of Financial World, the London-based industry monthly: Download FinancialWorld_May07.pdf.
Another related piece on IASB governance was published by Telos, a French-speaking discussion website.