Australia's Switch to International Financial Reporting Standards: A Perspective from Account Preparers

24 Pages Posted: 20 Oct 2006

See all articles by Stewart Jones

Stewart Jones

University of Sydney – School of Business

Alison D. Higgins

University of Sydney Business School

Abstract

This study reports the findings of a structured telephone survey on adoption of international financial reporting standards (IFRS) from 60 firms drawn from among Australia's top 200 corporations. Although we find evidence of strong systematic variation in survey responses with factors such as firm size, industry background and expected impacts on financial performance, the general results indicate that many respondents have not been well prepared for the transition and are generally very sceptical about the claimed benefits of IFRS as enunciated in the government's Corporate Law Economic Reform Program. The results have implications to other international reporting jurisdictions, particularly the European Union, where adoption of IFRS is already underway.

Suggested Citation

Jones, Stewart and Higgins, Alison D., Australia's Switch to International Financial Reporting Standards: A Perspective from Account Preparers. Accounting and Finance, Vol. 46, No. 4, pp. 629-652, December 2006. Available at SSRN: https://ssrn.com/abstract=938835 or http://dx.doi.org/10.1111/j.1467-629X.2006.00186.x

Stewart Jones (Contact Author)

University of Sydney – School of Business ( email )

Cnr. of Codrington and Rose Streets
Sydney, NSW 2006
Australia

Alison D. Higgins

University of Sydney Business School

Cnr. of Codrington and Rose Streets
Sydney, NSW 2006
Australia

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