Financial reporting policy in a dynamic environment

To cope with the increasing globalisation of capital markets, financial regulators in Australia have embarked on an ambitious program to converge national accounting standards with International Financial Reporting Standards. The convergence program means a significant departure from present financial reporting policy and will necessitate substantial change by reporting entities. The effectiveness of the existing differential reporting policy is drawn into question in the light of the changes taking place. An evaluation of the perceptions of the effectiveness of the extant differential reporting model is undertaken and alternative policy approaches considered. The findings indicate that certain aspects of the differential reporting model have inherent problems not necessarily related to the recent policy change and that corrective action needs to be undertaken to maintain its relevance.

Cross-sector transfer of consolidated financial reporting - conceptual concerns

This article addresses a major concern about the use of particular accounting concepts, notably those of control and assets, for whole-of-government consolidated financial reporting. While whole-of-government consolidated financial reports may resemble the formats required by accounting standards and so provide a benchmark for comparative purposes, inherent weakness in the specification of underpinning concepts means that proper and full application of the consolidation methodology cannot be assumed. A study of the whole-of-government consolidated financial reports of the Commonwealth, state and territory governments of Australia revealed that significant assets, obligations and controlled entities have not been included.

Public reporting of nursing home quality of care : Lessons from the United States experience for Canadian policy discussion

While the demand for continuing care services in Canada grows, the quality of such services has come under increasing scrutiny. Consideration has been given to the use of public reporting of quality data as a mechanism to stimulate quality improvement and promote public accountability for and transparency in service quality. The recent adoption of the Resident Assessment Instrument (RAI) throughout a number of Canadian jurisdictions means that standardized quality data are available for comparisons among facilities across regions, provinces and nationally. In this paper, we explore current knowledge on public reporting in nursing homes in the United States to identify what lessons may inform policy discussion regarding potential use of public reporting in Canada. Based on these findings, we make recommendations regarding how public reporting should be progressed and managed if Canadian jurisdictions were to implement this strategy.