In 1980, the Canadian Institute of Chartered Accountants (CICA) published a landmark research study called
Corporate Reporting: Its Future Evolution. "The study is directed to all those who are interested or concerned with the publication and the use of corporate financial information in Canada and elsewhere. It should be of particular interest to accounting standard setters, but the analysis, argument and conclusions are equally important to all of the other groups of people interested in financial accounting." Chapter 10 of the study offers a proposed evolutionary solution to the problem of establishing accounting standards.
