The adoption of IFRS based reporting in Australia for all reporting periods commencing 1 January 2005 onwards resulted in substantial variations to prior accepted reporting practices. One area in which change was particularly profound was in the shift to an impairment testing based regime for...

This paper examines the profit quality of a goodwill-intensive firm, Transpacific Industries Group Limited (ASX.TPI), by specifically focusing on critical judgments and disclosures relating to goodwill impairment. The term quot;profit qualityquot; is synonymous with terms such as quot;creative...

While the adoption of IFRS did not visit radical change upon all aspects of the financial accounting and reporting apparatus, this was not in the case of goodwill accounting and reporting, where almost every facet of prior practice was rendered redundant. Accordingly, careful scrutiny of the...

Audit quality can be defined as relating to the probability that financial statements contain no material omissions or misstatements. Previous research on the subject of audit quality relies on the assumption that large audit firms (Big 4) are homogenous in providing higher audit quality than...

The introduction of an impairment test for goodwill under IFRS is seen as another step toward moving financial accounting and reporting from its traditional historical cost paradigm to one of fair value. This regulatory change has been the subject of a growing body of literature which has often...

After many years of debating the appropriate treatment for goodwill, Malaysia finally has an enforceable accounting standard on this topic. Applicable for business combinations with reporting dates commencing on or after 1 January 2006, FRS 136 - Impairment of Assets requires that goodwill...

Discount rate selection represents a centrally material factor impacting valuation models. Given the strong reliance on discounted cash flow modelling as a basis for determining an assets recoverable amount, the judgement exercised by reporting entities regarding rate selection is of paramount...

By convention, the quality of an audit is understood to relate to the joint probability that its conduct results in the detection and reporting of material financial statement errors. Early research into this phenomenon suggested a positive relationship between audit firm size and audit quality....

The ASX Listing rules and various provisions of the Corporations Act require that listed corporations keep capital markets informed (subject to carve out provisions) of any information that a reasonable person would expect to have a material impact on the price or value of its securities. An...

Expense ratios are an important impersonal data source and one of the major factors influencing the purchase decision for an investor in an investment fund. Growth in Australian sourced investment funds has now eclipsed $1 trillion, with predictions that the whole market will compound by 12...