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    Recognition and disclosure of impairment in China

    Wang, Jing; Hooper, Keith

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    Wang & Hooper 2014 CO&C 12 1.pdf (821.6Kb)
    Date
    2014
    Citation:
    Wang, J., and Hooper, K. (2014). Recognition and disclosure of impairment in China. Corporate Ownership & Control Journal, 12(1), pp.709-716
    Permanent link to Research Bank record:
    https://hdl.handle.net/10652/2895
    Abstract
    This paper aims to examine the extent of goodwill impairment in listed companies of China and the audited disclosure of of goodwill. China is an important adopter of International Financial Standards but the question remains as a recent adopter, to what extent contentious issues such as goodwill impairment are implemented. The research analyzes the financial and share market information gathered from the top 50 companies listed on the Shanghai Stock Exchange. The findings reveal that goodwill amortization has been discontinued and replaced by goodwill impairment, but interestingly the Big Four Western audit firms, with a plethora of clients are less likely to be intimidated by Chinese managers into ignoring impairment than small local firms, which may be more dependent on these large Chinese corporations for their existence. However findings indicate that negative finacial and share market information show some correlation with goodwill impairment when impairment occurs. The most significant finding is that the analysis reveals that there remains a wider problem with adequate disclosure in the notes to the accounts as to whether and why goodwill should be impaired or not.
    Keywords:
    China, disclosure, listed companies, international financial standards, impairment, goodwill
    ANZSRC Field of Research:
    150104 International Accounting
    Copyright Holder:
    Virtus Interpress
    Rights:
    This digital work is protected by copyright. It may be consulted by you, provided you comply with the provisions of the Act and the following conditions of use: Any use you make of these documents or images must be for research or private study purposes only, and you may not make them available to any other person. You will recognise the author's and publishers rights and give due acknowledgement where appropriate.
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