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The establishment of an Accounting Standards Review Board (ASRB) in Australia followed proposals for greater government and community involvement in the development of accounting rules, and concern about the low level of compliance with the accountancy profession's standards. The profession had opposed proposals for a review board. The Ministerial Council for Companies and Securities overrode these objections, yet avoided giving any formal authority to the ASRB. In this environment the way was left open for renewed opposition to arrangements which had reduced the profession's capacity to control the standard-setting process. The newly-formed ASRB was vulnerable if it was unproductive—and it encountered delays and difficulties in receiving and processing submissions from the profession. The Board lacked the authority (and the will) to enforce its priorities. After two years the Board abandoned earlier efforts to secure wider community participation in its activities, and announced ‘fast track’ pro...