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Are Superannuation Disclosures in Company Financial Reports Useful?
Author(s) -
Gallery Natalie
Publication year - 2003
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.1835-2561.2003.tb00402.x
Subject(s) - accounting , business , compliance (psychology) , public disclosure , finance , psychology , mechanical engineering , social psychology , engineering
An analysis of superannuation disclosures in the financial reports of 120 public companies shows surprisingly frequent instances of non‐compliance with AASB 1028. This is attributed to inherent weaknesses in the mandatory disclosure requirements. Significant problems include inconsistencies in the reporting of information about hybrid superannuation funds sponsored by companies, absence of timeliness, and non‐disclosure of contribution holidays. These findings suggest that present superannuation disclosure requirements do not meet the objective of providing useful information for decision‐making.