Are financial statements still useful?

Are financial statements still useful? Yes, according to the findings from a CPA Australia funded research project involving the University of Melbourne and Monash University. In this podcast, we hear from Prof. Michael Davern, one of the academics who was part of the team that undertook this important study.  Prof. Davern talks about the story behind the study, the key findings and what it means for the future of financial reporting. 


  • 4:12 – Exploring the misunderstanding around the role that financial reporting plays in the marketplace
  • 7:50 – The key findings from CPA Australia’s research project to explore the state of financial statements and accounting
  • 12:04 – The usefulness of EBITDA, non-GAAP and non-IFRS financial information to shareholders and others
  • 17:04 – The importance of industry specific non-GAAP information and the relevance of information for decision making by investors based on sector-specific information
  • 23:23 – Exploring the size of a company and the impact this has on shareholder decisions
  • 25:24 – Where do we go next with the information confirming that financial statements are useful?

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