Australia’s early adoption of International Financial Reporting Standards in 2005 was influenced by the argument that the quality of financial reporting would be improved. This paper contends that in Australia the notion of quality in relation to financial reporting is ambiguous and contestable and demonstrates that over 40 years there has been no consensus on its meaning. It draws on past academic and professional literatures as well as current interviews and surveys to argue that whilst the definitional elements of quality have changed over time, there is still no clear understanding in Australia of what quality means in relation to financial reporting. Without this clarity, it is very difficult for users of financial reports to judge if the quality of financial reporting in Australia has improved since the introduction of IFRS, thus undermining a key argument for adoption.
|Title of host publication||World congress of accounting historians (WCAH)|
|Subtitle of host publication||program and abstracts / 12th world congress of accounting historians (WCAH), July 20-24, 2008, Istanbul, Turkey|
|Place of Publication||Istanbul, Turkey|
|Number of pages||47|
|Publication status||Published - 2008|
|Event||World Congress of Accounting Historians (12th : 2008) - Istanbul, Turkey|
Duration: 20 Jul 2008 → 24 Jul 2008
|Conference||World Congress of Accounting Historians (12th : 2008)|
|Period||20/07/08 → 24/07/08|
Cheung, E., Evans, E., & Wright, S. (2008). Tracing the elements associated with quality of financial reporting in Australia: echoes from the past. In World congress of accounting historians (WCAH): program and abstracts / 12th world congress of accounting historians (WCAH), July 20-24, 2008, Istanbul, Turkey Istanbul, Turkey: Dekon.