“The ‘Real’ Impact Factor: Accounting Research, Practice, and Users”: Towards a New Relationship between Academia, Professionals, and Standard Setters in Accounting

Researchers are facing a growing demand to demonstrate that their work has consequences – an impact. Those who fund the research are increasingly seeking evidence that the research has practical, or real-world, implications. For example, the Research Excellence Framework (REF – formerly Research Assessment Exercise – RAE) currently run in the UK includes the need for explicit and documented information on the effect of the scholarly work on “real life” and professional realms. The governments of the Netherlands, Canada and Australia are following a similar line. This paper introduces a Special Issue of Financial Reporting, in collaboration with the International Accounting Standards Board (IASB) IFRS Research Center, which is aimed to provide a different perspective on the complex and multi-faceted issue of the relationship between accounting research, practice and standard setting. Rather than focusing on technical or capital-market related topics of potential relevance for the accounting standardisation process or professional operational aspects, the Special Issue aims to explore the contents and issues of that relationship. In other words, this Special Issue hosts works that offers a distinctive analytical angle on questions concerning that relationship, dealing with its historical and current features as well as the elements that may hinder fluid and fruitful interconnections.