School of Accounting and Commercial Law – Te Kura Kaute, Ture Tauhokohoko: Centre for Accounting, Governance and Taxation Research

Permanent URI for this collectionhttps://ir.wgtn.ac.nz/handle/123456789/21217

See the Centre for Accounting, Governance and Taxation Research website for more information about the centre or the School of Accounting & Commercial Law website for their degrees, people, courses, contact details, news and events, and research.

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Open Access
Charity Financial Reporting Regulation: a Comparison of the United Kingdom and Her Former Colony, New Zealand
(Te Herenga Waka—Victoria University of Wellington, 2005) Cordery, Carolyn Joy; Baskerville-Morley, Rachel F
Charities are becoming more highly regulated worldwide and yet they are subject to diverse, country-specific, financial reporting standards. New Zealand is a jurisdiction that has treated all sectors alike in its approach to the financial regulation of charities, whilst the United Kingdom has, for some time, separated the regulation of charities from other entities. This paper provides a comparison of the histories of the evolution of regulation for charity reporting in the United Kingdom and New Zealand. The current process of international harmonization in both jurisdictions is premised on the principle that accounting conceptual frameworks should not be jurisdiction-specific, but charities have proved to be an exception. We suggest in this study that this exception is attributed to different drivers resulting in regulatory distinctions in two otherwise similar jurisdictions. Without persisting in the maintenance of sector neutrality, the inevitable divergence increases the load on preparers, attesters, and users and may lead to lower levels of accountability and transparency.
Open Access
Due Process and the Adoption of IFRS in New Zealand
(Te Herenga Waka—Victoria University of Wellington, 2005) Bradbury, Michael; van Zijl, Tony
This paper reviews the decision to adopt IFRS in New Zealand and the subsequent decisions made on implementation of adoption. The emphasis of the review is on due process. The paper outlines the current regulatory structure for financial reporting in New Zealand, the role of due process and describes the due process requirements that applied in New Zealand prior to implementation of the decision to adopt IFRS. The paper describes how the decision to adopt IFRS was made, how the approach to implementation was determined and reviews the adequacy of the due process followed. We conclude that the limited due process followed for the decision to move to international financial reporting standards and for each individual IAS or IFRS was adequate. However, the actual method of converting international standards to New Zealand standards did not go through sufficient due process.
Open Access
The Value Relevance of Information about Convertible Financial Instruments
(Te Herenga Waka—Victoria University of Wellington, 2005) Bishop, Helen; Bradbury, Mike; van Zijl, Tony
We investigate the value relevance of the financial statement information about convertible financial instruments. Our findings indicate that the classification of convertibles provides incremental information over and above the book value of equity and net income. This finding is not as strong for convertibles that are classified as a form of mezzanine financing between debt and equity as for those classified as debt or equity. We also find that investors make use of information contained in the notes but only with respect to mandatory convertibles and convertibles where the right to make the decision about conversion or redemption rests with the issuer.

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