Abstract
This paper analyses the roles of discourse in the legitimation process of institutions. In particular, it explains the theoretical significance of “principles-based” as discourse and describes how this discourse roles and functions in the global diffusion of International Financial Reporting Standards (IFRS). By applying the critical discourse analysis and the Latourian framework, I conduct qualitative analysis on the principles-based versus rules-based debate. My findings show two kinds of translation in the diffusion of IFRS: problematization of rules-based accounting standards and translational implementation of IFRS. Overall, this paper suggests that the principles-based discourse plays a critical role in the institutionalization of global accounting standards.
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