This study investigates Australian Securities Exchange (ASX) 200 firms in the post–Australian Securities and Investments Commission (ASIC) period (2011–2014) to examine how listed firms follow the non–International Financial Reporting Standards (IFRS) earnings reporting guidelines issued by ASIC to communicate underlying earnings reporting quality. We find that firms that do not comply with the ASIC guidelines have lower underlying earnings reporting quality than do firms that comply with these guidelines. Firms that do not follow the ASIC guidelines are found to exclude income‐increasing underlying earnings adjustments to make underlying earnings appear more profitable than IFRS earnings when they miss earnings targets or make current losses, and that they report underlying earnings opportunistically by excluding recurring expenses that persist into future operating earnings. Unlike ASIC non‐compliance firms, ASIC compliance firms attempt to act as responsible reporters by reporting underlying earnings in a responsible manner to demonstrate a judicious use of discretion in informing shareholders. Further, we find that underlying earnings reported by non‐compliance firms are less value‐relevant than underlying earnings reported by compliance firms.

中文翻译：

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非IFRS收益报告准则对基本收益报告质量的影响：以澳大利亚上市公司为例

这项研究调查了澳大利亚证券交易委员会（ASIC）在后澳大利亚时期（2011-2014）期间的200家公司，以研究上市公司如何遵循由美国证券交易委员会发布的非国际财务报告准则（IFRS）收益报告准则。 ASIC传达基本的收益报告质量。我们发现，不遵守ASIC准则的公司的潜在收益报告质量要比遵守这些准则的公司低。发现未遵循ASIC准则的公司排除了增加收入的基本收益调整，以使基本收益在未达到收益目标或造成当期亏损时，看起来比IFRS收益更具利润，并且他们通过排除持续存在于未来营业收入中的经常性费用来机会性地报告基本收益。与ASIC非合规性公司不同，ASIC合规性公司试图以负责任的方式报告负责任的报告人，以证明他们明智地运用酌情权告知股东。此外，我们发现，非合规公司报告的基础收益与合规公司报告的基础收益的价值相关性较低。