Cheong, C.Masum, M.2011-11-172011-11-172010Australasian Accounting Business and Finance Journal, 2010; 4(3):65-811834-20001834-2019http://hdl.handle.net/2440/67425We examine whether financial analysts’ forecast accuracy differs between the pre- and post- adoption of Australian Equivalents to the International Financial Reporting Standards (AIFRS). We find that forecast accuracy has improved after Australia adopted AIFRS. As a secondary objective, this paper also investigates the role of financial analysts in reducing information asymmetry in today’s Australian capital market. We find weak evidence that more analysts following a stock do not help to improve forecast accuracy by bringing more firm-specific information to the market.enCopyright ©2010 Australasian Accounting Business and Finance Journal and Authors.Analysts’ forecastsAIFRSForecast errorsIntangible assetsJournal article002011248427871Cheong, C. [0000-0001-8120-0167]Masum, M. [0000-0002-9922-8173]