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Australia's switch to international financial reporting standards: a perspective from account preparers

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  • Stewart Jones
  • Alison D. Higgins

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

  • Stewart Jones & Alison D. Higgins, 2006. "Australia's switch to international financial reporting standards: a perspective from account preparers," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 46(4), pages 629-652, December.
    • Handle: RePEc:bla:acctfi:v:46:y:2006:i:4:p:629-652
    DOI: 10.1111/j.1467-629X.2006.00186.x
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    References listed on IDEAS

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