Tracing the elements associated with quality of financial reporting in Australia

echoes from the past

Esther Cheung, Elaine Evans, Susan Wright

Research output: Chapter in Book/Report/Conference proceedingConference proceeding contribution

Abstract

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.
Original languageEnglish
Title of host publicationWorld congress of accounting historians (WCAH)
Subtitle of host publicationprogram and abstracts / 12th world congress of accounting historians (WCAH), July 20-24, 2008, Istanbul, Turkey
Place of PublicationIstanbul, Turkey
PublisherDekon
Number of pages47
ISBN (Print)9789750196034
Publication statusPublished - 2008
EventWorld Congress of Accounting Historians (12th : 2008) - Istanbul, Turkey
Duration: 20 Jul 200824 Jul 2008

Conference

ConferenceWorld Congress of Accounting Historians (12th : 2008)
CityIstanbul, Turkey
Period20/07/0824/07/08

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    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.