The Australian Accounting Standards Board (AASB) has published a research report, entitled Review of Adoption of International Financial Standards in Australia.
The report assesses the adoption and ongoing relevance of IFRS Standards to Australian for-profit and not-for-profit (NFP) reporting entities.
Commenting on the publication of the report, Hans Hoogervorst, Chairman of the International Accounting Standards Board, said:
It is encouraging to see such a positive assessment of IFRS adoption in Australia, the findings of which are broadly consistent with similar studies undertaken in Canada, the European Union and Korea.
To find out more, download the full report here.