Purpose – The setting of private finance companies failing in New Zealand during 2006-12 was characterised by weaker corporate governance and enforcement of securities law. This paper explores audit failure in this setting and examines whether auditors erred in their audits of the failed...

This study examines the behaviour of earnings, accruals and impairment losses of failed finance companies in New Zealand. It draws on conservatism in the development of research hypotheses about accounting variables that are likely to contain clues to future failures of finance companies. The...

The impact of the adoption of International Financial Reporting Standards (IFRS) on the accounts and the quality of earnings of New Zealand firms is examined. Our analysis of IFRS adjustments for the last period under pre-IFRS NZ Generally Accepted Accounting Principles (GAAP) reveals that...

Purpose – The purpose of this paper is to investigate the properties of net income (NI) and total comprehensive income (TCI) of listed companies in New Zealand (NZ). Four properties of TCI and NI are examined: persistence, variability, predictive ability, and value relevance. Whether the value...