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Implications of the global trend towards convergence of financial reporting standards: a comparative study of Australia and Fiji

posted on 28.03.2022, 20:02 by Parmod Chand
This thesis examines how different countries adopt International Financial Reporting Standards (IFRSs). In particular, it examines whether IFRSs are interpreted and applied in a consistent manner within the South Pacific region. It questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting. Adopting a holistic approach, this thesis considers both the de jure and de facto aspects of comparability in financial reporting. Prior studies have provided evidence that de jure consistency may not necessarily result in de facto consistency in the application of accounting standards across countries leading to international comparability of financial statements. -- The aim of this study is to empirically examine the implication of the trend towards international convergence of financial reporting standards where countries differ significantly in terms of culture, size, structure of the underlying economies, and the related experience of accountants in exercising professional judgments. To address this issue, this study has the following objectives: (1) to discuss the accounting environment in the South Pacific region and examine whether countries adopt and enforce IFRSs in a similar manner in the region; (2) to evaluate the characteristics and significance of prior accounting judgment and decision making studies; (3) to examine whether there are differences in judgments of professional accountants within a country when interpreting and applying IFRSs; and (4) to examine the extent and the cause of differences in judgments between professional accountants across countries when interpreting and applying IFRSs. Four projects were undertaken to achieve these objectives. -- This study provides insights into the factors that may be acting as constraints on achieving the objectives of accounting convergence.


Table of Contents

Overview of the thesis -- Paper 1: International Convergence of Financial Reporting Standards: evidence from the South Pacific Region -- Paper 2: Accounting judgment and decision making research: evaluation of publications in top-tier accounting journals (1971-2005) -- Paper 3: Judgments based on interpretation of 'new' and 'complex' International Financial Reporting Standards within a country: evidence from Fiji -- Paper 4: Cultural and non-cultural factors affecting judgments of professional accountants: a comparative study of Australia and Fiji -- Concluding remarks.


Bibliography: p. 213-233

Awarding Institution

Macquarie University

Degree Type

Thesis PhD


Thesis (PhD) , Macquarie University, Division of Economic and Financial Studies, Dept. of Economics

Department, Centre or School

Dept. of Economics

Year of Award


Principal Supervisor

Chris Patel

Additional Supervisor 1

Hector Perera


Copyright disclaimer: http://www.copyright.mq.edu.au Copyright Parmod Chand 2008.




Australia Pacific Ocean


x, 273 p. ill

Former Identifiers

mq:19321 http://hdl.handle.net/1959.14/169370 1608976