Australian Accounting Review最新文献

{"title":"The IASB and Comparability of International Financial Reporting: Research Evidence and Implications","authors":"Ann Tarca","doi":"10.1111/auar.12326","DOIUrl":"10.1111/auar.12326","url":null,"abstract":"<p>One motivation for the adoption of International Financial Reporting Standards (IFRS) is to improve the comparability of financial information presented by listed companies and thereby to contribute to improving transparency, accountability and efficiency in financial markets around the world. Beginning from the perspective of the International Accounting Standards Board (IASB) and academic researchers, I describe what is meant by comparability and then I list four areas of research where academics have investigated comparability of IFRS financial statements. Within each area I present examples of studies, usually around the time of adoption of IFRS, and discuss the implications of the research findings for the work of the IASB and the activities of other bodies supporting the implementation of IFRS. Finally, I identify areas of future research that could contribute to public policy deliberations.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12326","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43984323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinants of Carbon Emission Disclosures and UN Sustainable Development Goals: The Case of UK Higher Education Institutions","authors":"Anup Kumar Saha,&nbsp;Habiba Al-Shaer,&nbsp;Rob Dixon,&nbsp;Istemi Demirag","doi":"10.1111/auar.12324","DOIUrl":"10.1111/auar.12324","url":null,"abstract":"<p>In recent years, organisational sustainability has become a topical issue in many institutional fields and a number of calls have been made to improve the disclosure of carbon information as part of sustainability efforts. This paper responds to these calls, chiefly examining the determinants of (CED) in the annual reports of UK higher education institutions (HEIs). It also aims to predict the relationship between the extent of CED and UN Sustainable Development Goals (SDGs) reporting by UK universities. We construct a disclosure index to capture the extent and type of CED in the annual reports of UK HEIs, finding that carbon reduction targets imposed by the Government, environmental audit, and the amount of actual carbon emissions are significant and positively associated with CED. However, we find no relationship between CED and the disclosure of SDGs. We argue that HEIs'. CED can be useful in developing relevant regulatory policies given the targets are carefully set. Our research has important implications for policymakers regarding carbon reduction targets and related non?mandatory guidance, as these can be utilised as an effective mechanism in increasing carbon emission disclosure voluntary CED that are integrated into SDG disclosures.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12324","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45095761","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Editorial: Evidence on APRA Proposals and Impact of COVID-19 on Expected Credit Loss Accounting","authors":"Michael Bradbury,&nbsp;Bryan Howieson","doi":"10.1111/auar.12323","DOIUrl":"10.1111/auar.12323","url":null,"abstract":"<p>The majority of papers in this issue were accepted prior to us becoming editors. We have, however, included two papers that we have recently accepted because we believe they provide timely insights into important and urgent contemporary issues. The first, Le et al. (<span>2020</span>), is effectively a submission on recent Australian Prudential and Regulatory Authority (APRA) proposals. The second paper, el Barnoussi et al. (<span>2020</span>), addresses the challenges banks face when applying expected credit loss models during the current COVID-19 crisis.</p><p>As noted in a previous editorial (Bradbury and Howieson <span>2019</span>), we welcome papers that provide evidence on standard setting and regulatory proposals. In that editorial we outlined the submission we made to the Parliamentary Inquiry into Regulation of Auditing in Australia, using articles that had previously been published in the <i>Australian Accounting Review (AAR)</i>. It was pleasing to see that papers published in <i>AAR</i> were mentioned in the draft Parliamentary report (see https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Corporations_and_Financial_Services/RegulationofAuditing/Interim_Report). In a similar vein, the first paper in this issue (Le et al. <span>2020</span>) provides evidence to inform APRA proposals to govern the design and oversight of remuneration arrangements.</p><p>Le et al. (<span>2020</span>) survey remuneration practices in large financial institutions, and especially the four large trading banks. They provide evidence on the use of non-GAAP earnings measures that are used in the determination of remuneration. Hence, the existing measures of financial performance used to determine senior executive compensation are not as objective as might be assumed.</p><p>We believe <i>AAR</i> is a natural ‘home’ for submissions made to policymakers’ proposals. We believe that such papers, even after the submission date, are relevant for publication in <i>AAR</i>, (1) to illustrate research impact, (2) to provide academic recognition for the authors, and (3) to generate further research and encourage academics to contribute to standard-setting and policy development processes by presenting the results to a wider audience.</p><p>To reiterate, we welcome theoretical and empirical research that addresses issues relevant to policymakers, especially on formal proposals. Papers can summarise prior research (e.g., Bradbury and Howieson <span>2019</span>) or present new evidence (e.g., Le et al. <span>2020</span>). We forewarn, however, that submissions need to be of high academic standards to meet the review process. We also note that there is a balance in presenting evidence and being an advocate for a particular position and we suggest that papers should faithfully represent the evidence.</p><p>el Barnoussi et al. (<span>2020</span>) is the first paper in <i>AAR</i> that addresses COVID-19-related issues. The paper points out that IFRS 9 and US ASC 3","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12323","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43996259","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"How the XRB Uses Research in Setting Accounting and Assurance Standards","authors":"Michael E. Bradbury","doi":"10.1111/auar.12318","DOIUrl":"10.1111/auar.12318","url":null,"abstract":"<p>In this paper I describe how the New Zealand External Reporting Board (XRB) and its sub-boards, the New Zealand Accounting Standards Board (NZASB) and the New Zealand Auditing and Assurance Standards Board (NZAuASB), use research in setting accounting and assurance standards. The XRB came into existence on 1 July 2011. In the early years (2011–2014) the focus was on getting the Accounting Standards Framework in place. Research into (financial statement) user-needs became a major strategy in 2014 and continues to be a key component of the boards’ due process.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-08-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12318","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41274661","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Executive Compensation and Financial Performance Measures: Evidence from Significant Financial Institutions","authors":"Cao Hoang Anh Le,&nbsp;Yaowen Shan,&nbsp;Stephen Taylor","doi":"10.1111/auar.12315","DOIUrl":"10.1111/auar.12315","url":null,"abstract":"<p>We survey the use of financial performance measures in determining executive pay among significant Australian financial institutions. We document evidence of the pervasiveness with which externally disclosed non-GAAP (non-Generally Accepted Accounting Principles) financial measures are also used internally to determine variable remuneration, with the apparent popularity of cash profit after tax in short-term incentives plans. Our evidence also highlights the increasing use of peer group-adjusted measures (e.g., relative cash earnings per share and return on equity ranking against a peer group) in determining longer-run incentives, despite the fact that members of the peer group do not measure financial performance in a directly comparable manner. Detailed analysis of the four major trading banks (Australia and New Zealand Banking Group, Commonwealth Bank, National Australia Bank and Westpac) reveals differences in the way non-GAAP earnings measures are calculated across the major banks, as well as some variation over time in the way individual banks measure performance. We also document evidence of non-GAAP earnings restatements, with around 25% of non-GAAP results subsequently being restated. These restatements are more likely to result in a downward revision of the initially reported non-GAAP result than an upward revision. We therefore conclude that existing measures of financial performance used to determine senior executive compensation are not as ‘objective’, as might be assumed.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12315","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43893517","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Prudential Application of IFRS 9: (Un)Fair Reporting in COVID-19 Crisis for Banks Worldwide?!","authors":"Aziz el Barnoussi,&nbsp;Bryan Howieson,&nbsp;Ferdy van Beest","doi":"10.1111/auar.12316","DOIUrl":"10.1111/auar.12316","url":null,"abstract":"<p>IFRS 9 and ASC 326 were developed after the 2008–2009 financial crisis, and both accounting standards include an expected loss model as a means of providing for credit losses. As a result of the COVID-19 worldwide pandemic, however, banks face considerable uncertainty about the potential scale of the bad debts for which they will need to provide. Banks need to reassess their loan assets, by updating their risk models with expectations about potential default rates and future macro-economic and financial developments. However, we see several interventions worldwide. The European Securities and Markets Authority addresses a position paper on the prudential application of IFRS 9. The <i>Coronavirus Aid, Relief, and Economic Security Act</i> in the US has given banks an optional deferral of implementation of the CECL model until 31 December 2020. This paper addresses the challenges banks face when applying the expected losses model during the current crisis. More importantly, it discusses the impact of supervisor and regulators’ intervention on future financial reporting comparability, transparency and whether there is a level playing field.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12316","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42509702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"All in the Mind: Citizen Satisfaction and Financial Performance in the Victorian Local Government System","authors":"Carolyn-Dung Thi Thanh Tran,&nbsp;Brian Dollery","doi":"10.1111/auar.12317","DOIUrl":"10.1111/auar.12317","url":null,"abstract":"<p>While a significant body of literature exists on local government efficiency, much less is known about its effectiveness, especially financial performance and resident satisfaction. To address this gap in the empirical literature, the present paper uses system-wide official annual data on resident satisfaction in the Victorian state local government system in Australia to investigate the relationship between annual net operating results and overall citizen satisfaction. In addition, in order to garner a deeper understanding of this relationship, we evaluated the assumption in the ‘near-to-zero balance’ public accounting literature that local residents prefer an insignificant annual balance in operating performance compared to substantial annual losses or surpluses. We found that there is a significant negative association between overall satisfaction and its components and financial performance for Victorian local government as a whole. However, this association is largely restricted to rural councils with surpluses. By contrast, we find no relationship between satisfaction and near-to-zero balances. We conclude by considering the implications of our findings for both the public accounting literature and local government policymaking.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12317","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42667189","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Evidence-informed Approach to Setting Standards: A Discussion on the Research Strategies of AASB and AUASB","authors":"Mukesh Garg,&nbsp;Kris Peach,&nbsp;Roger Simnett","doi":"10.1111/auar.12314","DOIUrl":"10.1111/auar.12314","url":null,"abstract":"<p>This paper provides a commentary on the approach used by the Australian Accounting Standards Board (AASB) and the Auditing and Assurance Standards Board (AUASB) in setting standards which are consistent with their vision and mission to contribute to stakeholder confidence in the Australian economy, including its capital markets, and in external reporting. The objective of the paper is to inform a wide range of stakeholders including academics, assurance practitioners, investors, preparers of financial reports and regulators on how the two standardsetters use a robust and transparent evidence-informed approach to setting standards and guidance in Australia. The evidence is also applied to influence international standardsetters and to enhance key international relationships by demonstrating thought leadership. The AASB's and the AUASB's standard-setting process involves robust consultation with stakeholders and is guided by the evidence-informed standard-setting frameworks of the two boards. The paper also provides insight into how evidence is gathered and implemented by the standardsetters and discusses the process for building and maintaining strong relationships with the research community. The collaborative effort not only supports researchers in contributing to the academic literature but also for them to have a regulatory impact by informing the financial reporting and assurance standard-setting process.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12314","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45110719","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Application of the Reporting Entity Concept by Australian Charities","authors":"Phil Saj,&nbsp;Chee Cheong","doi":"10.1111/auar.12306","DOIUrl":"10.1111/auar.12306","url":null,"abstract":"<p>We provide evidence on the application of the reporting entity concept by Australian charities by correlating the type of financial report with the indicators of reporting entity status posited under Statement of Accounting Concepts 1 (SAC1). In addition, we present evidence on the quality of charity financial reporting by investigating compliance with certain requirements of Australian accounting and auditing standards. We examine a random sample of 574 charities, comprising 10% of large charities that lodged financial reports with the Australian Charities and Not-for-Profits Commission in 2014. We find that while some indicators of reporting status are statistically significant in explaining reporting choice, their economic significance is weak. Consequently, we conclude that the application of the reporting entity concept is inconsistent, and raise questions about the effectiveness of SAC1 and the quality of charity financial reporting.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12306","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46946048","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Accreditation without Impact: The Case of Accreditation by Professional Accounting Bodies in Australia","authors":"Mel Timpson,&nbsp;Leopold Bayerlein","doi":"10.1111/auar.12303","DOIUrl":"10.1111/auar.12303","url":null,"abstract":"<p>Australian tertiary accounting education relies on a variety of accreditation processes to develop, manage and assure the learning outcomes of students. This research focuses on the impact of professional accounting body accreditation on Australian higher education providers (HEPs). It explores the process and rigour with which HEPs utilise the objectives and standards within this accreditation process to evaluate and improve their degree programs. This research uses interview data with HEP staff who have led accreditation processes of bachelor-level accounting degrees. Data were analysed using a narrative framework to establish a range of discourses that explore the engagement of HEPs with: the process; the level of trust HEP staff have in the process; and the processes’ benefits. This research demonstrates that the current accreditation process does not achieve its stated outcomes and is unable to improve the alignment of student learning with professional expectations. Professional body accreditation fails to achieve its objectives because HEPs consider accreditation to be a ‘tick-box’ process without consequence and are mistrustful of the veracity of several aspects within the process. Building on these findings, this research provides insights into the challenges associated with accreditation and explores how a previously impactful accreditation process has become largely inconsequential.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":null,"pages":null},"PeriodicalIF":3.4,"publicationDate":"2020-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/auar.12303","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49644097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}