Evaluation of Compliance with AAS 27: Financial reporting by Local Government in New South Wales

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Title: Evaluation of Compliance with AAS 27: Financial reporting by Local Government in New South Wales
Author/Creator: Laing, G
Description: This research examines the level of compliance with the requirements of the Australian Accounting Standard (AAS 27), over a period of four years (1994, 1995, 1996 and 1997) by 177 local government councils in NSW. The overall level of compliance was found to be 97.0% indicating a high level of conformity during this transitional period. A number of problems were identified as causing nonconformity, in particular aspects of the recognition and treatment of assets. Additional matters of concern are the timeliness of the reports and the disproportionate high levels of depreciation expense in the operating statement.
Relation: Faculty of Business Working Paper Series / Vol. 3, No. 1, pp.3-17
Year: 2000
Publisher: University of the Sunshine Coast
Subject: FoR 1503 (Business and Management) | compliance | local government | financial reporting

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