Further research is important and might be valuable to gather more information about the attributes that are influencing audit quality and earnings management in the Australian region. This research has contributed to the existing literature regarding audit quality and especially Australia. Despite using a different model than most conducted previous studies, namely Roychowdhury’s Earnings Management Model, the findings are in line with previous studies concluding that the adoption of IFRS has not significantly impacted audit quality in Australia. Further research should point out which variables and attributes are affecting audit quality in order to investigate the development of audit quality and earnings management.
Additionally, as discussed in the previous paragraph, the development of audit fees and audit hours in Australia may shed more light on the assumption that the complexity of IFRS has resulted combined with economic despair has resulted in a negative impact on audit quality. Finally, it would be interesting to see what the impact of fair value accounting (which has resulted from the adoption of IFRS) has been on earnings management in Australia.