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Disclosure of the impacts of adopting Australian equivalents of International Financial Reporting Standards


  • Philip D. Palmer


This study investigates two disclosure variables ("Extent" and "Quality") in relation to compliance with paragraph 4.1 (b) of AASB 1047 "Disclosing the Impacts of Adopting Australian Equivalents to International Financial Reporting Standards". Using a sample of 150 Australian listed firms, I find that the extent and quality of disclosure is influenced by firm size, leverage and auditor firm size, with the latter variable being the most significant. In general, the results suggest that many companies might have relied on sample disclosures provided by their auditors, perhaps limiting both quality and intent. Additionally, the ultimate usefulness of broad and imprecise standards might be questionable. Smaller companies might also require more guidance and assistance with their preparation for the adoption. Copyright (c) 2008 The Authors. Journal compilation (c) 2008 AFAANZ.

Suggested Citation

  • Philip D. Palmer, 2008. "Disclosure of the impacts of adopting Australian equivalents of International Financial Reporting Standards," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 48(5), pages 847-870.
  • Handle: RePEc:bla:acctfi:v:48:y:2008:i:5:p:847-870

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    1. repec:bla:abacus:v:53:y:2017:i:2:p:159-179 is not listed on IDEAS
    2. Apostolos Ballas & Vaia Panagiotou & Christos Tzovas, 2014. "Accounting Choices for Tangible Assets: A Study of Greek Firms," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 64(4), pages 18-38, October-D.
    3. Nicola Giuseppe Castellano & Katia Corsi & Roberto Del Gobbo, 2015. "Goodwill Disclosure in Europe. Profiles of disclosing companies," Eastern European Business and Economics Journal, Eastern European Business and Economics Studies Centre, vol. 1(2), pages 32-65.
    4. Md Humayun Kabir & Fawzi Laswad & Md Ainul Islam, 2010. "Impact of IFRS in New Zealand on Accounts and Earnings Quality," Australian Accounting Review, CPA Australia, vol. 20(4), pages 343-357, December.
    5. Grantley Taylor & Greg Tower, 2011. "Determinants of Financial Ratio Disclosure Patterns of Australian Listed Extractive Companies," Australian Accounting Review, CPA Australia, vol. 21(3), pages 302-314, September.
    6. Kabir Ibrahim, 2015. "The Impact of Firm Characteristics on IFRS 8 Disclosure in the Transition Period in Nigeria," International Journal of Economic Sciences, International Institute of Social and Economic Sciences, vol. 4(4), pages 1-13, December.
    7. repec:eeb:15v1n2:v:1:y:2015:i:2:p:32-65 is not listed on IDEAS

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