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C ompliance and C ontroversy : T he AAS 25 R eporting P aradox
Author(s) -
Anderson Don,
Sharp Leeanne
Publication year - 1992
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.1992.tb00137.x
Subject(s) - confusion , accounting , business , psychology , psychoanalysis
The adoption of AAS 25, which specifies uniform reporting requirements for superannuation funds, has been particularly controversial. While the Australian Accounting Research Foundation (AARF) has maintained that uniform reporting practices for superannuation funds are necessary to provide performance information to investors, the superannuation industry has argued that AAS 25 will cause “confusion, misunderstanding and unnecessary concern among fund members”. Although the controversy has been widely reported, little information has emerged about the extent to which funds were already complying, or substantially complying, with the standard. This paper reports the results of a survey which indicates, contrary to expectations, that in the two years before the introduction of AAS 25 most funds were reporting in a way which would effectively comply with provisions of the standard.