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Compliance Over Time by Australian Firms with IFRS Disclosure Requirements

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  • Xiaojiao (Jo) Wang

Abstract

Prior literature indicates that compliance with International Financial Reporting Standards (IFRS) is not complete in many countries. This study examines practice under the Australian version of IFRS by measuring compliance with the disclosure requirements of eight standards. The study focuses on data drawn from the consolidated financial statements of a sample of the top 200 Australian listed companies. To enable a time‐series analysis of compliance over time, this study examines three reporting years: 2006, 2010 and 2014. This research identifies material non‐compliance among Australian companies, finding that some disclosure items appear to be neglected by companies, such as some of the requirements of AASB 137 Provisions. This non‐compliance raises questions about accounting and audit quality in Australia. It may suggest poor regulatory oversight.

Suggested Citation

  • Xiaojiao (Jo) Wang, 2019. "Compliance Over Time by Australian Firms with IFRS Disclosure Requirements," Australian Accounting Review, CPA Australia, vol. 29(4), pages 679-691, December.
    • Handle: RePEc:bla:ausact:v:29:y:2019:i:4:p:679-691
    DOI: 10.1111/auar.12267
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    Cited by:

    1. Zeting Zang & Humayun Kabir & Tom Scott, 2022. "Does OCI Presentation for Equity Financial Assets Matter?," Australian Accounting Review, CPA Australia, vol. 32(4), pages 427-439, December.
    2. Guilherme Belloque & Martina K Linnenluecke & Mauricio Marrone & Abhay K Singh & Rui Xue, 2021. "55 years of Abacus: Evolution of Research Streams and Future Research Directions," Abacus, Accounting Foundation, University of Sydney, vol. 57(3), pages 593-618, September.

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