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Financial reporting policy in a dynamic environment

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journal contribution
posted on 2005-11-01, 00:00 authored by J Faux, Victoria Wise
To cope with the increasing globalisation of capital markets, financial regulators in Australia have embarked on an ambitious program to converge national accounting standards with International Financial Reporting Standards. The convergence program means a significant departure from present financial reporting policy and will necessitate substantial change by reporting entities. The effectiveness of the existing differential reporting policy is drawn into question in the light of the changes taking place. An evaluation of the perceptions of the effectiveness of the extant differential reporting model is undertaken and alternative policy approaches considered. The findings indicate that certain aspects of the differential reporting model have inherent problems not necessarily related to the recent policy change and that corrective action needs to be undertaken to maintain its relevance.

History

Journal

International review of business research

Volume

1

Issue

2

Pagination

1 - 9

Publisher

World Business Institute

Location

Melbourne, Vic.

ISSN

1832-9543

Language

eng

Notes

Reproduced with kind permission of the copyright owner.

Publication classification

C1.1 Refereed article in a scholarly journal

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