Answer
Reported accounting standards have economic impacts in the way that resources are transferred among entities and individuals as a result of these standards; it is not surprising then that people influenced by these standards will be very interested in any proposed changes in the financial reporting environment.
Work Step by Step
Publicly announced accounting standards impact the dispersion of scarce resources such as finances. Resources are directed where required at returns commensurate with perceived risk. Thus, when there is a new proposition for a new standard, interested parties will be interested in making their views and opinions heard.
