e-journal

FRS36 and post-transition compliance quality among Singapore firms

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Purpose – The purpose of this paper is to contemplate the degree to which Singaporean firms comply
with the highly technical disclosure requirements required under International Accounting Standards
(IAS) IAS 36 specific to goodwill impairment testing.
Design/methodology/approach – The adoption of IAS in Singapore from 1 July 2004 introduced a
highly technical standard (financial reporting standards – FRS 36) which has challenged many
preparers. While it is generally accepted that accounting compliance may be suboptimal in transition
periods as preparers accommodate change, it is assumed compliance quality improves with the
passage of time. This study examines compliance of the largest 168 Singaporean goodwill-intensive
firms over a three year period, 2005-2007, to interrogate compliance quality post-transition.
Findings – The paper reports distinctly poor compliance systemically over the three years across
many facets of goodwill impairment testing disclosures including cash-generating unit (CGU)
definition and goodwill allocation, and key input variables used in estimating CGU recoverable
amounts.
Practical implications – The results raise questions about the quality of accounting information
among goodwill-intensive firms in Singapore and the robustness of regulatory oversight institutions
operating within Singapore.
Originality/value – The paper illustrates a novel approach to examining the issue of accounting
quality under IFRS by examining compliance quality through large sample time-series analysis
focusing on note-form disclosures.

Keywords Singapore, Goodwill accounting, Disclosure, Accounting standards

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Informasi Detail

Judul Seri

Asian Review of Accounting

No. Panggil

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Penerbit

: Emerald Group., 2010

Deskripsi Fisik

Asian Review of Accounting Vol. 18 No. 3, 2010 pp. 221-244

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

AKUNTANSI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati/Syahrial

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