A Regional Study Of Listed Companies' Compliance with International Accounting Standards

Abstract

The move towards international harmonisation of accounting standards has dominated the work programme of the Australian Accounting Standards Board in the past two years. Some have expressed concern that Australia is moving too quickly towards harmonisation when compared to other countries. This paper examines the extent of compliance with International Accounting Standards (IAS) in six countries in the Asia‐Pacific region. By providing evidence as to the level of compliance with IAS in financial statements, the paper also indicates the extent of de‐facto harmony. The paper also examines various determinants of compliance with IAS and finds that country of location remains the clear driving force.