This article traces the ascent of the International Accounting Standards Committee (IASC) from an obscure group with little influence in the early 1970s to a pre-eminent position as global accounting standard-setter in 2001. I argue that the rise of the IASC can be explained by several factors,...

Uniform rules incur high aggregate compliance costs when agents are sufficiently heterogeneous. Despite this, uniformity remains a common feature in regulation. Focusing on the monitoring stage of enforcement, this paper highlights an underappreciated benefit of uniform rules. Uniformity of...