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The cost of implementing new accounting standards: The case of IFRS adoption in Australia

机译：实施新会计准则的成本：澳大利亚采用国际财务报告准则的情况

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摘要

This article examines the implementation errors that are made when accounting standards are implemented for the first time. Focusing on the transition to the International Financial Reporting Standards (IFRS), we provide evidence on the causes of these errors as well as the economic consequences of disclosing these errors. We find that the quality of both the chief financial officers (CFOs) and the auditors are associated with less implementation errors. We also find that there is a learning process as later adopters of IFRS report less errors compared to early adopters in the financial reporting cycle. In terms of the consequences of disclosing these errors, we find that firms reporting more implementation errors experience an increase in information asymmetry when these errors become known to market participants. Furthermore, we find a positive association between implementation errors and increases in audit fees when the implementation errors are disclosed. Our results are robust with respect to a number of sensitivity tests.
机译：本文研究了首次实施会计标准时所发生的实施错误。我们着眼于向国际财务报告准则（IFRS）的过渡，为这些错误的起因以及披露这些错误的经济后果提供了证据。我们发现首席财务官（CFO）和审计师的素质都与更少的实施错误相关。我们还发现，由于财务报告周期中的早期采用者比早期采用者报告的错误少，因此存在学习过程。关于披露这些错误的后果，我们发现，报告更多实施错误的公司在市场参与者了解这些错误时会经历信息不对称的增加。此外，当披露实施错误时，我们发现实施错误与审计费用增加之间存在正相关关系。关于许多敏感性测试，我们的结果是可靠的。

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