Browsing by Author "van Zijl, Wayne"

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A post-implementation review of IFRS 15
(University of the Witwatersrand, Johannesburg, 2023) Govender, Brentin; van Zijl, Wayne
The purpose of this study is to explore the financial reporting implications of South Africa’s adoption of IFRS 15. This paper looks specifically at the usefulness of IFRS 15 in comparison with IAS 18, IAS 11 and its related interpretations from the perception of Chartered Accountants (SA) in South Africa. The research adopted a quantitative method using a survey. Primary data collected from 109 completed survey responses received from auditors, academics regulators, users of financial statements and preparers to evaluate whether IFRS 15 is more useful than the previous revenue standards. The findings suggest that the implementation of IFRS 15 has achieved the objectives set out by the IASB for issuing the new revenue standard. This has resulted in IFRS 15 providing more useful information than IAS 18 and IAS 11 as South African CA(SA)’s perceived IFRS 15 to improve the fundamental and enhancing qualitative characteristics of useful information. There are drawbacks to the implementation of IFRS 15 being high costs and the risk of incorrect application of IFRS 15. The findings also reveal that it is too complex to determine if IFRS 15 has reduced the opportunity for management bias or manipulation. This paper contributes to the accounting literature on the usefulness of new accounting standards from the perspective of Chartered Accountants (SA) in South Africa
Analysing the disciplinary power of proactive monitoring bodies
(Emerald, 2025-07) Flowers, Kevin; van Zijl, Wayne; Ram, Jaywant; Warren Maroun
Purpose – The important role of regulatory monitoring bodies in enhancing financial statement quality is increasingly being studied. Prior research focuses on developed economies and often adopts a relatively unproblematic regulatory perspective to explain how these bodies foster compliance. This paper adopts a more critical approach by investigating the forces and processes at work by utilising a Foucauldian disciplinary power perspective on the proactive monitoring unit (PMU) regulating South African listed companies on the Johannesburg Stock Exchange. Design/methodology/approach – Seventeen semi-structured, open-ended interviews were conducted with expert financial statement preparers, auditors, regulators and academics. Open, axial and selective coding were used to analyse the interview data. Findings – The PMU isindicative of an enclosure mechanism that monitors and controlsthe financial reporting space of listed companies. Consequently, preparers and auditors resemble well-trained individuals who follow the PMU’s guidance without question. The PMU’s constant gaze, combined with the negative reputational impact of an adverse review for individual preparers and auditors, results in them presenting their financial statements in conformity with the PMU’sinterpretation. However, complete panoptic control is not achieved, as there is some resistance. Originality/value – This is one of the first studies to examine how an external monitoring body, the PMU, functions in a real-world setting. There is a limited understanding of what drives companies to comply with monitoring bodies that do not enjoy the direct force of law. This paper makes use of the novel Foucauldian framework to contribute towards understanding the disciplinary power that may be applied by the PMU.