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Disclosure of liquidity and cash flow statements by Australian superannuation funds before Covid‐19

Author

Listed:
  • Pamela Kent
  • Richard Kent
  • Robyn McCormack
  • Julie‐Anne Tarr

Abstract

The Commonwealth's stimulus package required the unexpected distribution of cash by superannuation funds to members during the Covid‐19 pandemic. We focus on disclosure and maintenance of an operational risk financial reserve and reporting of the statement of cash flows in annual reports by Australian superannuation funds. These disclosures represent mandated sources of information providing evidence of liquidity levels for meeting cash payouts and disclosure adherence. Many funds did not meet their statutory reporting requirements. More members and higher union board membership as measures of stakeholder power explain higher disclosure in support of managerial stakeholder theory.

Suggested Citation

  • Pamela Kent & Richard Kent & Robyn McCormack & Julie‐Anne Tarr, 2023. "Disclosure of liquidity and cash flow statements by Australian superannuation funds before Covid‐19," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 2653-2675, June.
    • Handle: RePEc:bla:acctfi:v:63:y:2023:i:2:p:2653-2675
    DOI: 10.1111/acfi.12987
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