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Financial Reporting Policy in a Dynamic Environment

Faux, Jeffrey and Wise, Victoria (2005) Financial Reporting Policy in a Dynamic Environment. International review of business research papers, 1 (2). pp. 1-9. ISSN 1832-9543

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Abstract

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.

Item Type: Article
Uncontrolled Keywords: ResPubID8434, convergence, International Financial Reporting Standards, differential reporting policy
Subjects: Faculty/School/Research Centre/Department > Centre for Strategic Economic Studies (CSES)
FOR Classification > 1503 Business and Management
Depositing User: VUIR
Date Deposited: 28 Mar 2012 05:09
Last Modified: 28 Mar 2012 05:09
URI: http://vuir.vu.edu.au/id/eprint/2754
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